Indian rupee ended slightly stronger on Friday as resilient Asian peers and domestic corporate dollar inflows negated a weak euro and local shares. Domestic equity markets dipped post the release of IIP numbers which came in at 6.3% versus 13.1% Y-o-Y as per the new series. Meanwhile, under the old series it stood at 4.4% versus 7.3% in March, much below the street expectation of 5.1%.On the global front, the euro fell against the dollar as worries over Greek debt returned to center stage while investors scaled back expectations of the pace of European Central Bank interest rate hikes.
Finally the Rupee ended at 44.71, stronger by 2 paise from its previous close of 44.73 on Thursday. It has touched a high and low of 44.7575 and 44.6700 respectively. The Reserve Bank of India's reference rate for the US dollar stood at 44.72 and for Euro it stood at 64.72 on June 10, 2011. While, the RBI's reference rate for the Yen stood at 55.83 and the reference rate for the Great Britain Pound (GBP) stood at 72.9271. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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