Indian rupee depreciated against dollar on Thursday on demand for the American currency from importers and banks. Investors remained cautious ahead of the Consumer Price Index (CPI) inflation and index of industrial production (IIP) data to be scheduled on Friday. On the global front, dollar moved higher against the other major currencies on Thursday, pulling away from the previous session’s one-week trough as investors turned their attention to upcoming U.S. data.
Finally the rupee ended at 66.84, weaker by 13 paise from its previous close of 66.71 on Wednesday. The currency touched a high and low of 66.91 and 66.81 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.86 and for Euro stood at 74.65 on August 11, 2016. While, the RBI’s reference rate for the Yen stood at 65.91, the reference rate for the Great Britain Pound (GBP) stood at 86.95. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
