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Rupee ends marginally weaker against dollar

06 Aug 2015 Evaluate

Indian rupee ended slightly weaker on Thursday tracking strong gains in the greenback against major world currencies. The domestic currency showed a volatile trade and had moved higher in mid of the trade on increased selling of the American currency by exporters amid higher foreign funds inflow into the domestic equity market, but lost its momentum in final hours. On the global front, dollar was near a two-month high against the yen as traders increasingly bet that the Federal Reserve will hike interest rates as early as September. Traders are keenly awaiting Nonfarm payroll data from the US due tomorrow for further cues on rate hike timing.

Finally, the rupee ended at 63.76, 1 paise weaker from its previous close of 63.75 on Wednesday. The currency touched a high and low of 63.81 and 63.71 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.76 and for Euro stood at 69.70 on August 06, 2015. While, the RBI’s reference rate for the Yen stood at 51.11, the reference rate for the Great Britain Pound (GBP) stood at 99.6000. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

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