Snapping its six day depreciating streak, Indian rupee ended stronger on Friday, on incremental selling of the American currency by exporters. Meanwhile, heavy capital inflows into the domestic equity market after July WPI inflation cheered the stock markets and raised hopes of another rate cut by the Reserve Bank at the September review of the policy also supported the sentiment. Further, domestic currency was also supported by the massive gains in equity markets. On the global front, dollar dipped against the yen and euro after the release of a batch of U.S. retail sales report that further boosted expectations for a Federal Reserve rate hike as early as next month.
Finally, the rupee ended at 65.01, 9 paise stronger from its previous close of 65.10 on Thursday. The currency touched a high and low of 65.34 and 64.95 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.12 and for Euro stood at 72.55 on August 14, 2015. While, the RBI’s reference rate for the Yen stood at 52.35, the reference rate for the Great Britain Pound (GBP) stood at 101.6171. The reference rates are based on 12 noon rates of a few select banks in Mumbai
