Indian rupee remained in consolidation mood on Thursday, after making a mildly soft start the domestic currency hovered in a tight range as the euro inched higher against the dollar. The rupee however recovered along with the domestic equity markets but the gains in the Dollar against a basket of major currencies weighed on the sentiments. On the global front, the dollar strengthened on data the US economy degrew at 0.2 per cent in the March quarter, compared with previously estimated 0.7 per cent, increasing further hopes of rise in interest rates by the US Fed.
Finally the rupee ended at 63.62, 2 paise weaker from its previous close of 63.60 on Wednesday. The currency touched a high and low of 63.63 and 63.55 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.61 and for Euro stood at 71.16 on June 25, 2015. While, the RBI’s reference rate for the Yen stood at 51.40, the reference rate for the Great Britain Pound (GBP) stood at 99.7947. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
