Snapping its five-day winning streak, Indian rupee depreciated against dollar on Thursday due to demand for greenback by banks and importers. The domestic currency further surrendered its early gain after sharp fall in the local equity markets. Besides, investors remained cautious ahead of the release the April factory output data on 10 June. On the global front, dollar hit a five-week low against the yen on Thursday, due to falling Treasury yields amid waning expectations that the Federal Reserve will lift interest rates anytime soon.
Finally, the rupee ended at 66.71, 6 paise weaker from its previous close at 66.65 on Wednesday. The currency touched a high and low of 66.78 and 66.55 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.62 and for Euro stood at 75.89 on June 09, 2016. While the RBI’s reference rate for the Yen stood at 62.41, the reference rate for the Great Britain Pound (GBP) stood at 96.7195. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
