Indian rupee giving up its early gains turned lower on Thursday on sustained buying of the US currency by importers and banks. The domestic currency made a positive start and was supported by a green start in the local equity markets, but as the equity markets started receding the rupee followed too, on fear of foreign fund outflow. The sentiments were also weighed down by the dollar's strength against other currencies overseas. In the global markets, the dollar moved higher on bets that the United States could be edging towards its first interest rate rise. The yen too gave back some of its previous session's gains against the dollar.
Finally the rupee ended at 63.97, 13 paise weaker from its previous close of 63.84 on Wednesday. The currency touched a high and low of 64.01 and 63.74 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.89 and for Euro stood at 72.31 on June 11, 2015. While, the RBI’s reference rate for the Yen stood at 51.85, the reference rate for the Great Britain Pound (GBP) stood at 98.8969. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
