Indian rupee after a weak start recovered considerably to end modestly lower on Friday. The domestic currency was weighed down by the appreciation of the American currency overseas, while the weakness in local equity markets too pressured the rupee. Although, investors remained cautious across currency and equities markets, but the rupee bounced back intraday as the dollar lost some ground on the yen but edged up against the euro, but finally the increased demand of American green back from importers dragged the rupee down. On the global front, the dollar weakened slightly against its rivals, as stalled progress in talks between Greece and its creditors discouraged investors.
Finally the rupee ended at 63.64, 2 paise weaker from its previous close of 63.62 on Thursday. The currency touched a high and low of 63.65 and 63.57 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.604 and for Euro stood at 71.23 on June 26, 2015. While, the RBI’s reference rate for the Yen stood at 51.54, the reference rate for the Great Britain Pound (GBP) stood at 100.0939. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
