Indian rupee, surrendering early gains concluded weak against dollar on Thursday tracking losses in Asian currencies after a slump in Chinese equities reinforced concerns about the world’s second-largest economy and also on heavy capital outflows. Besides, massive losses of local equities also added to the pessimistic environment. On the global front, dollar fell against most currencies on the back of dovish July FOMC minutes. Lower than expected inflation data in US has cast doubts about Fed rate hike next month.
Finally, the rupee ended at 65.55, 28 paise weaker from its previous close of 65.27 on Wednesday. The currency touched a high and low of 65.55 and 65.12 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.23 and for Euro stood at 72.57 on August 20, 2015. While, the RBI’s reference rate for the Yen stood at 52.59, the reference rate for the Great Britain Pound (GBP) stood at 102.2092. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
