The Indian rupee slipped on Friday following fresh demand for the US currency from banks and importers to meet the month end dollar demand. The domestic currency made a flat start and gathered some gains after the higher start of the local equity markets, however volatility in the equities in the latter trade too weighed on the rupee amid dollar buying by importers. On the global front, the dollar pared its weekly advance against the euro as European stocks failed to sustain a recovery from a worldwide selloff.
Finally, the rupee ended at 66.16, 12 paise weaker against its previous close of 66.04 on Thursday. The currency touched a high and low of 66.20 and 66.02 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.08 and for Euro stood at 74.36 on August 28, 2015. While, the RBI’s reference rate for the Yen stood at 54.54, the reference rate for the Great Britain Pound (GBP) stood at 101.9230. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
