Indian rupee ended stronger against dollar on Friday posting its biggest one day gain in past two years since September 19, 2013, due to heavy selling of American currency by foreign banks after the US Federal Reserve kept its policy rates unchanged. The domestic currency benefited from a weaker dollar as well as hopes that a rate cut from the RBI would boost investor confidence. Further, rupee was also supported by the smart rally in equity markets. Investors were also getting support after Finance Minister Arun Jaitley’s statement that inflation and deficit are under control. On the global front dollar regained its ground against the euro and slipped against the yen after the US Federal Reserve kept its interest rates unchanged for the time being.
Finally, the rupee ended at 65.67, 78 paise stronger from its previous close of 66.45 on Wednesday. The currency touched a high and low of 65.67 and 66.22 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.92 and for Euro stood at 75.12 on September 18, 2015. While, the RBI’s reference rate for the Yen stood at 55.01, the reference rate for the Great Britain Pound (GBP) stood at 102.7515. The reference rates are based on 12 noon rates of a few select banks in Mumbai
