Indian rupee ended weaker against dollar on Monday on sustained demand for the American currency from banks and importers. Besides, weak trade in the domestic equity market and losses in Asian currency market also hit the rupee sentiment. Meanwhile, investors awaited policy decisions from the Federal Reserve and the Bank of Japan later in the week. This was the third session for which the rupee traded lower. On the global front, dollar rose against the yen, but later reversed gains ahead of meeting of the U.S. and Japanese central banks later this week.
Finally, the rupee ended at 66.62, 14 paise weaker from its previous close of 66.48, on Friday. The currency touched a high and low of 66.75 and 66.61 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.68 and for Euro stood at 74.95 on April 25, 2016. While the RBI’s reference rate for the Yen stood at 59.99, the reference rate for the Great Britain Pound (GBP) stood at 96.3249. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
