Indian rupee ended strong against the American greenback for third consecutive session on Friday tracing gains of the common currency, as currency traders looked ahead positively to next week's promise of more liquidity from the European Central Bank, encouraged by the progress made in Greece where the cabinet approved a debt restructuring plan, and by tentative signs of global economic improvement. However, Indian currency retracted from day’s high point weighed down by the drag in the local equities, while oil importers' clamour for dollars also capped some gains.
Finally the rupee ended at 48.93, stronger by 27 paise from its previous close of 49.20 on Thursday. It has touched a high and a low of 49.16 and 48.93 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 49.0650 and for Euro it stood at Rs 65.5701 on February 24, 2012. While, the RBI's reference rate for the Yen stood at 61.00 the reference rate for the Great Britain Pound (GBP) stood at 77.1891. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
