Indian rupee strengthened against dollar in early deals on Friday after the American currency tumbled against major world currencies. Besides, increased selling of dollar by exporters and banks and a higher opening in the domestic equity market too supported the rupee. Rupee improved further on rising expectations that the Reserve Bank of India will have scope to cut key lending rate later this month now that the US Federal Reserve has kept its interest rates unchanged. Indian Forex markets were closed on Thursday on account of Ganesh Chaturthi. On the global front, the dollar took back some lost ground in Asian trading on Friday after skidding to three-week lows against the euro and a basket of currencies after the Federal Reserve held interest rates steady and cut its long-term US growth outlook.
The partially convertible currency is currently trading at 66.05, stronger by 40 paise from its previous close of 66.45 on Wednesday. The currency touched a high and low of 66.22 and 66.01 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.50 and for Euro stood at 75.02 on September 16, 2015. While, the RBI’s reference rate for the Yen stood at 55.34, the reference rate for the Great Britain Pound (GBP) stood at 101.9977. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| September 16, 2015 | 66.5000 | 101.9977 |
| September 15, 2015 | 66.4383 | 102.4080 |
(RBI-Reference Rate)
