Indian rupee ended marginally weaker against the US dollar on Thursday on account of buying of American currency by banks and importers. Besides, dollar’s gains against other currencies overseas put some pressure on the rupee, but gains in the local equity market capped the losses. Meanwhile, according to a private report, the Reserve Bank of India is likely to keep key interest rates unchanged on April 6, while there is scope for a rate cut in the August meet on slow growth and benign inflation. On the global front, euro dipped against dollar on Thursday as easing inflation in Spain and Germany led investors to row back further on expectations of when the European Central Bank might tighten monetary policy.
Finally, the rupee ended at 64.92, 1 paise weaker from its previous close of 64.91 on Wednesday. The currency touched a high and low of 64.99 and 64.88 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.93 and for Euro stood at 69.87 on March 30, 2017. While the RBI’s reference rate for the Yen stood at 58.43, the reference rate for the Great Britain Pound (GBP) stood at 80.75.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
