Indian rupee ended marginally stronger against dollar on Monday on increased selling of the US currency by banks and exporters. The domestic currency was also supported by the gains in equity markets, which despite some volatility managed a positive close. However, dollar’s gains against a basket of major currencies overseas capped the rise. Some support also came with Finance Minister Arun Jaitley’s statement that the impact of the Brexit vote on India would not be significant, as the underlying fundamentals of the economy were robust. On the global front, euro was weak on Monday, as investors remained on sideline in the wake of U.K.'s unexpected vote to leave the European Union.
Finally, the rupee ended 67.94, 2 paise stronger from its previous close a t 67.96 on Friday. The currency touched a high and low of 68.02 and 67.81 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.90 and for Euro stood at 74.88 on June 27, 2016. While the RBI’s reference rate for the Yen stood at 66.69, the reference rate for the Great Britain Pound (GBP) stood at 90.9113. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
