Indian rupee ended marginally weaker on Thursday against dollar on account of foreign fund outflows amid appreciation in the US currency overseas. Further, weak trade in the local equity markets also weighed on the sentiment of the domestic currency. The rupee also lost ground despite better-than-expected indirect tax collection data. The indirect tax collection growth slowed a bit in August compared to July but remained robust on account of a sharp pick-up in excise duty collection on account of additional revenue measures. Indirect taxes-excise duty, service tax and customs duty - rose 36.7 per cent in August to Rs 54,396 crore over the same month in 2014. Meanwhile, investors have started eyeing the IIP data slated for release on September 11. On the global front, the dollar pushed higher against the yen on Thursday but gains were held in check amid ongoing concerns over the health of China’s economy.
Finally, the rupee ended at 66.43, 3 paise weaker from its previous close of 66.40 on Wednesday. The currency touched a high and low of 66.75 and 66.42 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.58 and for Euro stood at 74.71 on September 10, 2015. While, the RBI’s reference rate for the Yen stood at 55.14, the reference rate for the Great Britain Pound (GBP) stood at 102.2930. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
