Snapping its two-days gaining streak, Indian rupee ended weaker against dollar on Thursday on fresh demand for American currency from banks and importers, in line with the weak trend seen in most Asian currency markets. Besides, losses in local equity market also hit the rupee sentiment. Investors remained cautious as RBI Governor Raghuram Rajan talking on euphoria about India being the world's fastest-growing economy said that India still remains one of the poorest nations in the world on a per capita basis. On the global front, euro remained steady on Thursday, as investors remained cautious ahead of a policy meeting by the European Central Bank where it is widely expected to hold interest rates unchanged at record lows.
Finally, the rupee ended at 66.39, 17 paise weaker from its previous close of 66.22 on Wednesday. The currency touched a high and low of 66.42 and 66.17 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.29 and for Euro stood at 74.89 on April 21, 2016. While the RBI’s reference rate for the Yen stood at 60.48, the reference rate for the Great Britain Pound (GBP) stood at 95.1437. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
