Indian rupee bounced back on Tuesday, from its five consecutive days of decline and recovering all its previous session losses. The domestic currency which has slumped in last session on Greece worries and amidst month-end dollar demand from importers, gained some support with the recovery in the local equity markets, even though the concerns of Greece default kept looming large ahead of Sunday’s referendum in which Greek voters decide whether they want to agree to pay back their creditors. In the global market the euro slipped on Tuesday as traders braced for the near certainty that Greece will default on a repayment to the International Monetary Fund.
Finally the rupee ended at 63.64, 20 paise stronger from its previous close of 63.84 on Monday. The currency touched a high and low of 63.80 and 63.63 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.75 and for Euro stood at 71.20 on June 30, 2015. While, the RBI’s reference rate for the Yen stood at 52.07, the reference rate for the Great Britain Pound (GBP) stood at 100.1207. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
