Indian rupee ended weaker against dollar on Thursday due to fresh demand for American currency from banks and importers. Besides, the weak trade in the local equity market also weighed on the sentiment of rupee. However, dollar weakness against basket of major currencies overseas capped some losses of the domestic currency. The sentiments remained under pressure after the International Monetary Fund (IMF) marginally lowered India’s growth rate to 7.3% this year from the previous estimation of 7.5% in the July 2015 World Economic Outlook. On the global front,euro was little changed against the greenback after Greece unemployment data showed unemployment rate in Greece remained steady at 25 percent in July, after the June rate was revised down from 25.2 percent to 25 percent.
Finally, the rupee ended at 65.09, 12 paise weaker from its previous close of 64.97 on Wednesday. The currency touched a high and low of 65.18 and 65.02 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.15 and for Euro stood at 73.32 on October 8, 2015. While, the RBI’s reference rate for the Yen stood at 54.41 the reference rate for the Great Britain Pound (GBP) stood at 99.7814. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
