Indian rupee after making a modestly lower start and trading mostly flat, managed to end slightly higher on Wednesday. Although, the regional peers remained in red, the domestic currency extended its gains supported by some late hour recovery in the equity markets. However, intraday the rupee slipped at the Interbank Foreign Exchange due to increased demand for the US currency from importers and dollar’s strength overseas. In global markets the dollar halted its two days losing streak ahead of the release of the Federal Reserve’s minutes of most recent meeting.
Finally, the rupee ended at 61.40, stronger by 2 paise from its previous close of 61.42 on Tuesday. The currency touched a high and low of 61.54 and 61.34 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.46 and for Euro stood at 77.65 on October 08, 2014. While, the RBI’s reference rate for the Yen stood at 56.69, the reference rate for the Great Britain Pound (GBP) stood at 98.7678. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Finally, the rupee ended at 61.40, stronger by 2 paise from its previous close of 61.42 on Tuesday. The currency touched a high and low of 61.54 and 61.34 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.46 and for Euro stood at 77.65 on October 08, 2014. While, the RBI’s reference rate for the Yen stood at 56.69, the reference rate for the Great Britain Pound (GBP) stood at 98.7678. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
