Indian rupee ended weaker against the American currency on Friday, due to fresh dollar demand from banks and importers. Sentiments remained down-beat with the India Meteorological Department’s (IMD) statement that the arrival of the monsoon in the national capital is likely to be delayed by two-three days, though the city is expected to receive normal rainfall. It said normally, the monsoon reaches Delhi by June 29. Since there is a delay in its onset in the southern peninsula, the wind system is likely to take two-three days longer to reach northwest India. However, dollar losing sheen against some other currencies overseas capped the losses to some extent. On the global front, dollar was under pressure on Friday and was poised for its worst weekly performance for the year, as investors waited on a key US jobs report that is expected to back expectations for a near-term Federal Reserve rate cut to support a slowing economy.
Finally, the rupee ended at 69.44, 18 paise weaker from its previous close of 69.28 on Thursday. The currency touched a high and low of 69.52 and 69.21 respectively. The reference rate for the dollar stood at 69.32 and for Euro stood at 77.81 on June 7, 2019. While the reference rate for the Yen stood at 64.12, the reference rate for the Great Britain Pound (GBP) stood at 87.87.
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