Rupee remained unchanged amid decline in dollar’s demand in the currency exchange market. The dollar ended the day at Rs.85.10 versus the national currency on the local desk. Thus, rupee continued to trade on a positive note against the US currency.  In the international desk, against the green back, the single currency of Euro zone has fallen 19 percent since its Nov. 25 high, traded today at $1.2279 after touching a four-year low of $1.1877 on June 7.

The increased demand of the British pound sent the national currency on back foot in the forex rate market. Pound sterling was trading at Rs.125.89 from Rs.125.54 at close of markets yesterday. Therefore, rupee lost another 0.45 against Pound Sterling. Overall, rupee continued to trade on a negative note.

Common currency of Euro zone registered gains amid rise in its demand in the kerb market. The single currency was trading at Rs.104.16 at close of markets on Thursday.  On the international desk, the losses of Euro in latest months may increase exports from the currency area by 5%, though the effect in long-run on economic growth is “less certain,” the European Union said. The single currency’s actual effective exchange rate has shed close to 10% since its highest rate in October.

Due to absence of the demand UAE Dharam remained unchanged versus the rupee. Rupee was trading at 23.13 at close of markets on Thursday. Thus, rupee ended the day on a positive note versus Dharam.

Overall, Against Dharam and dollar rupee showed the same trend. However, rupee lost grounds versus Pound and Euro.