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Rupee ends stronger on Tuesday aided by gain Euro

24 May 2011 Evaluate

Indian Rupee ended strong on Tuesday aided by some gains in the euro and other Asian currency. However, the seesawing domestic shares limited a sharp rise in the domestic currency as the local bourses ended a little above its neutral line in green. Further, banks and exporters taking off the profit from the table in light of strong dollar overseas sold greenback which mainly boosted rupee. Meanwhile, the euro inched up from a two-month low against the dollar on Tuesday as some investors looked to capitalise on its recent fall, but rallies were shallow due to fears that the euro zone's debt crisis could spread.

Finally the Rupee ended at 45.20, stronger by 3 paise from its previous close of 45.23 on Monday.It has touched a high and low of 45.26 and 45.13/ 14 respectively. The Reserve Bank of India's reference rate for the US dollar stood at 45.25 and for Euro it stood at 63.58 on May 24, 2011. While, the RBI's reference rate for the Yen stood at 55.33 and the reference rate for the Great Britain Pound (GBP) stood at 72.8231. The reference rates are based on 12 noon rates of a few select banks in Mumbai

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