Tailing local equity markets, Indian rupee failed to maintain its initial gains and ended lower against US dollar on Monday, amid increased demand for dollar. Yen's weakness against the dollar overseas capped the domestic currency's gains. However, foreign capital inflows and some dollar selling by banks restricted local units down fall. Investors were still taking cues from fourth quarter growth figures, which will further reflect the reality of the local growth.
Finally the rupee ended at 53.29, weaker by 10 paise from its previous close of 53.19 on Friday. The currency touched a high and low of 53.33 and 52.91 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 52.97 and for Euro it stood at Rs 72.21 on February 4, 2013. While, the RBI’s reference rate for the Yen stood at 57.17, the reference rate for the Great Britain Pound (GBP) stood at 83.1703. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
