Snapping a two-day winning streak, India rupee ended weaker on Thursday on account of fresh demand for the US currency from importers and banks. Further, investors remained cautious as US will announce monthly jobs report on Friday which may confirm whether the Federal Reserve will raise rates or not. However, gains in domestic stock markets restricted the fall of rupee to some extent. On the global front, the dollar held steady against the other major currencies on Thursday, as investors remained cautious from the upcoming U.S. data for further indications on the strength of the economy.
Finally, the rupee ended at 66.24, 5 paise weaker from its previous close of 66.19 on Wednesday. The currency touched a high and low of 66.29 and 66.17 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.22 and for Euro stood at 74.33 on September 3, 2015. While, the RBI’s reference rate for the Yen stood at 54.98, the reference rate for the Great Britain Pound (GBP) stood at 101.2229. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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