Tuesday 16 June 2015

Rupee upbeat on Tuesday! Snaps three consecutive sessions’ depreciating streak

The rupee is currently trading at 64.09, stronger by 7 paise from its previous close of 64.16 on Monday. 

Indian rupee, snapping three consecutive sessions’ depreciating streak was trading strong against dollar on Tuesday on account of dollar sales by banks and exporters in view of weakness of dollar index against basket of other major currencies. However, weakness of local equities ahead of the release of 2-day US Federal Open Market Committee (FOMC) meet, kept the gains in check. On the global front, dollar was steady in early Asian trade on Tuesday, with traders adopting a cautious stance as they wait for the outcome of the U.S. Federal Reserve's two-day policy meeting ​which begins today amid the backdrop of a looming crisis in Greece.

The rupee is currently trading at 64.09, stronger by 7 paise from its previous close of 64.16 on Monday. The currency touched a high and low of 64.11 and 64.06 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.08 and for Euro stood at 71.84 on June 15, 2015. While, the RBI’s reference rate for the Yen stood at 51.93, the reference rate for the Great Britain Pound (GBP) stood at 99.5717.

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