Indian rupee made a good recovery from the lows of the day to end higher on Tuesday on hopes for fund inflows and American currency on fresh selling of dollars by banks and exporters. The domestic currency remained unaffected by the sharp slump in the final hours of local equity markets and ended near the highs of the day. However, the dollar edged lower against a basket of other major currencies on Tuesday, but remained supported close to a three-month peak. The euro continued its weakness, while the yen too declined against US greenback.
Finally, the rupee ended at 63.55,11 paise stronger from its previous close of 63.66 on Monday. The currency touched a high and low of 63.66 and 63.53 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.65 and for Euro stood at 68.90 on July 21, 2015. While, the RBI’s reference rate for the Yen stood at 51.17, the reference rate for the Great Britain Pound (GBP) stood at 99.1358. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
