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Rupee ends unchanged against dollar on Friday

14 Jul 2017 Evaluate

Indian rupee ended flat against US dollar on Friday, even as wholesale price index based inflation eased to 0.9 percent in June from 2.17 percent in May, on account of easing manufactured products and fuel prices. Besides, weak trade in domestic equity market too kept pressure on the local currency. Meanwhile, investors remained on sidelines ahead of high-profile meeting chaired by Prime Minister Narendra Modi to review the country’s foreign direct investment policy, where further easing of restrictions may also be discussed. On the global front, the dollar struggled for direction on Friday, ahead of a set of closely watched inflation data that analysts say could help determine the next policy move from the Federal Reserve.

Finally, the rupee ended unchanged from its previous close of 64.44 on Thursday. The currency touched a high and low of 64.48 and 64.43 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.45 and for Euro stood at 73.56 on July 14, 2017. While the RBI’s reference rate for the Yen stood at 56.90, the reference rate for the Great Britain Pound (GBP) stood at 83.54. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

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