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Rupee ends marginally strong on Thursday

14 Jul 2011 Evaluate

Indian rupee after gaining the most in six weeks on Thursday cooled off substantially to end with marginal gains. Local currency boosted by the weakness in dollar and gains in euro emerged stronger in early deals. But then volatility in the local equities sucked away all the gains of the local currency. However, lower than expected June Inflation at 9.44% injected strength in equities and the local unit too, thereby letting it to end in green.  

Finally the Rupee ended at 44.50, stronger by 2 paise from its previous close of 44.52/53 on Wednesday. It touched a high and low of 44.55 and 44.44 respectively. The Reserve Bank of India's reference rate for the dollar stood at 44.52 and for Euro it stood at 63.15 on July 14, 2011. While, the RBI's reference rate for the Yen stood at 56.37 and the reference rate for the Great Britain Pound (GBP) stood at 71.8011. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

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