Indian rupee extending decline for the third consecutive day ended past crucial 64 per dollar mark on Thursday, on sustained capital outflows by foreign funds amid appreciation of the American currency overseas. The domestic currency was weak from the beginning and failed to gain any strength amid sluggish trading in the equity markets, however there was some recovery in the final hours following a bounce back in the equity, but steady demand for the greenback from importers restricted recovery in rupee. In the global market, the euro rallied on signs that the outlook for growth and inflation was improving.
Finally the rupee ended at 64.00, 9 paise lower from its previous close of 63.91on Wednesday. The currency touched a high and low of 64.07 and 63.75 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.17 and for Euro stood at 72.25 on June 4, 2015. While, the RBI’s reference rate for the Yen stood at 51.60, the reference rate for the Great Britain Pound (GBP) stood at 98.3007. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
