Indian rupee ended weaker against dollar on Monday due to fresh demand for American currency from banks and importers. Besides, some losses in local equity markets and dollar gains against other currencies overseas too hit the rupee sentiment. Investors remained cautious with the Monsoon session of the Parliament starting from today amid hopes the government will be able to pass the Goods and Services Tax Bill that is now stuck in the Upper House. On the global front, the yen fell against the dollar on Monday as investors unwound a surge of safe-haven trades done on the back of reports of an attempted military coup in Turkey on Friday.
Finally, the rupee ended 67.19, 12 paise weaker from its previous close at 67.07 on Friday. The currency touched a high and low of 67.21 and 67.05 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.10 and for Euro stood at 74.16 on July 18, 2016. While the RBI’s reference rate for the Yen stood at 63.51, the reference rate for the Great Britain Pound (GBP) stood at 88.6881. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
