Indian rupee extending its gaining spree in the new week, surged to fresh one month high on Monday on persistent selling of American greenback by banks and exporters. The surge in equity markets on hopes of a possible deal clinched by the Greek authorities after Greek Prime Minister Alexis Tsipras presented a new plan of reforms, helped the domestic currency to strengthen for the fourth straight day. US dollar’s weakness against a basket of major currencies overseas too aided the rupee.Though, in the last leg there was some dollar demand from the importers that weighed on the rupee. On the global front, the euro rose against the dollar and the yen on Monday.
Finally the rupee ended at 63.52, 3 paise stronger from its previous close of 63.55 on Friday. The currency touched a high and low of 63.56 and 63.46 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.50 and for Euro stood at 72.31 on June 22, 2015. While, the RBI’s reference rate for the Yen stood at 51.73, the reference rate for the Great Britain Pound (GBP) stood at 100.9361. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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