Indian rupee ended flat on Thursday due to mild dollar demand from banks and importers after Reserve Bank of India (RBI) at its policy meet kept key policy rates unchanged and retained FY17 GDP growth forecast at 7.6%. Besides, a weak trend in the domestic equity market also weighed on the rupee. Traders failed to get any sense of relief with the GST Bill amendments adopted by the Rajya Sabha last week getting unanimously passed by the Lok Sabha on Monday. On the global front, dollar rose against a basket of major currencies, still benefiting from slightly raised chances of higher Federal Reserve interest rates this year after Friday's stronger-than-expected US jobs data.
Finally, the rupee ended unchanged from its previous close of 66.84 on Monday. The currency touched a high and low of 66.98 and 66.81 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.96 and for Euro stood at 74.18 on August 9, 2016. While, the RBI’s reference rate for the Yen stood at 65.36, the reference rate for the Great Britain Pound (GBP) stood at 86.99. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
