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Rupee strengthens on increased selling of American currency by exporters

30 Oct 2015 Evaluate

Indian rupee strengthened against dollar in early deals on Friday on account of increased selling of the American currency by exporters. Besides, a higher opening of the domestic equity market and weakness in dollar against other currencies too supported the domestic currency. On the global front, the euro edged up against the dollar early on Friday following upbeat euro zone economic data, while the yen was treading water ahead of the Bank of Japan's monetary policy decision due later in the day.

The partially convertible currency is currently trading at 65.23, stronger by 7 paise from its previous close of 65.30 on Thursday. The currency touched a high and low of 65.3050 and 65.2175 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.15 and for Euro stood at 71.24 on October 29, 2015. While, the RBI’s reference rate for the Yen stood at 53.93 the reference rate for the Great Britain Pound (GBP) stood at 99.3626. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
October 29, 201565.151599.3626
October 28, 201565.040899.5840

(RBI-Reference Rate)

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