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Rupee ends flat after touching two week high on Tuesday

21 Feb 2012 Evaluate

Indian rupee after touching a two week high level in early deals concluded on a flat note as strong dollar demand from oil refiners offset increased foreign fund inflows amid firm equity markets. Conclusion of long-awaited agreement for a crucial second bailout package for debt-stricken Greece mainly led to increased risk appetite in local equity markets. On the global front, euro slipped from one-week high on Tuesday with hopes that euro zone policymakers would approve a bailout for Greece eclipsed by concerns of more uphill battles for Europe to fix its economy.

Finally the rupee ended at 49.30, almost flat from its previous close of 49.29 on Friday. It touched a high and a low of 49.30 and 49.06 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 49.08 and for Euro it stood at Rs 65.1705 on February 21, 2012. While, the RBI's reference rate for the Yen stood at 61.52 the reference rate for the Great Britain Pound (GBP) stood at 77.7973. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

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