Indian rupee finally snapped its four days gaining streak on Tuesday on fresh demand of dollar from the banks and importers, while the dollar’s gain against other currencies overseas too weighed on the domestic currency. The rupee started weak and the early jitters in the equity markets further put pressure, though the equity markets bounced back and extended their gains but rupee made a lower closing showing global effects of dollar strengthening against other currencies. On the global front euro fell for a third day against the dollar on speculation that monetary policies in the US and Europe will diverge.
Finally the rupee ended at 63.60, 8 paise weaker from its previous close of 63.52 on Monday. The currency touched a high and low of 63.68 and 63.55 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.64 and for Euro stood at 71.62 on June 23, 2015. While, the RBI’s reference rate for the Yen stood at 51.46, the reference rate for the Great Britain Pound (GBP) stood at 100.4121. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
