Indian rupee paring all its early gains ended lower on Monday due to rise in the American currency against other currencies overseas. Besides, increased demand for the US currency from importers also weighed on the rupee movement. Though, the domestic currency traded higher in early trade supported by increased capital inflows as well as good going in the domestic equity markets. On the global front dollar stayed close to a nearly 4-month high against a basket of currencies, after steady US jobs growth supported expectations that the U.S. Fed could raise rates in September.
Finally, the rupee ended at 63.86, 5 paise weaker from its previous close of 63.81 on Friday. The currency touched a high and low of 63.99 and 63.73 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.75 and for Euro stood at 69.87 on August 10, 2015. While, the RBI’s reference rate for the Yen stood at 51.22, the reference rate for the Great Britain Pound (GBP) stood at 98.7563. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
