Indian rupee ended flat on Wednesday due to strength in dollar against other currencies overseas and concern that the US interest-rate increase as early as next month will trigger outflows from emerging-market assets. Besides, the increased demand for the US currency from importers also hit the sentiment of the rupee. On the global front, the dollar surged against the basket of major currencies as Atlanta Federal Reserve President Dennis Lockhart expressed support for an interest rate hike in September despite of disappointing data on wages and manufacturing activity.
Finally, the rupee ended flat at its previous close of 63.75 on Tuesday. The currency touched a high and low of 63.93 and 63.72 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.81 and for Euro stood at 69.31 on August 05, 2015. While, the RBI’s reference rate for the Yen stood at 51.29, the reference rate for the Great Britain Pound (GBP) stood at 99.1508. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
