Indian rupee ended higher on the last trading day of the week due to selling of the American currency by exporters amid increased foreign capital inflows. The domestic currency was also supported by the gains in equity markets, which despite some choppiness managed a positive close. However, dollar's gains against a basket of major currencies overseas capped the rise. On global front, the euro fell to the lowest level in seven weeks against the dollar as European Central Bank president Mario Draghi reiterated his commitment to providing unprecedented stimulus to the euro area.
Finally, the rupee ended at 63.47, 5 paise stronger from its previous close of 63.52 on Thursday. The currency touched a high and low of 63.52 and 63.45 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.49 and for Euro stood at 69.14 on July 17, 2015. While, the RBI’s reference rate for the Yen stood at 51.20, the reference rate for the Great Britain Pound (GBP) stood at 99.4297. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
