Indian rupee ended weak in a thin volume trade on Wednesday; the domestic currency remained a bit soft since morning lacking any direction from the global markets as most of them remained closed on account of New Year. Rupee remained under pressure due to dollar buying by importers, it was reported that a European bank went for big dollar buying in early session. In global markets, while the rupee shed more than 12 percent for the year, the euro became the world's best-performing major currency this year, while the dollar got its biggest annual gain against the yen since 1979.
Finally the rupee ended at 61.90, weaker by 10 paise from previous close of 61.80 on Tuesday. The currency touched a high and low of 61.97 and 61.82 respectively.The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.93 and for Euro stood at 85.12 on January 1, 2014. While, the RBI’s reference rate for the Yen stood at 58.83, the reference rate for the Great Britain Pound (GBP) stood at 102.3885. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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