Indian rupee appreciated against dollar, tracing the surge of local equity market, which was mainly on account of optimism that government will accelerate the pace of economic reforms after the Presidential poll. However, even the higher dollar selling by foreign banks and exporters, also added to upside of the local unit. On the global front, euro edged up against the dollar on Thursday, with gains in equities buoying demand for riskier and higher-yielding currencies.
Finally the rupee ended at 55.13, stronger by 37 paise from its previous close of 55.50 on Wednesday. The currency touched a high and low of 55.44 and 55.11 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 55.38 and for Euro it stood at Rs 68.0639 on July 19, 2012. While, the RBI’s reference rate for the Yen stood at 70.47, the reference rate for the Great Britain Pound (GBP) stood at 86.7464. The reference rates are based on 12 noon rates of a few select banks in Mumbai.