Indian rupee ended stronger against dollar on Friday on account of increased selling of the American currency by exporters. The domestic currency was supported by the recovery in the local equity markets in late morning trade. Though, the equity markets lost their way at the end, rupee maintained its momentum and ended higher. Some support came in with the Reserve Bank of India’s notification that non-resident Indians (NRIs) can opt to invest in the National Pension System (NPS), the move will help boost dollar inflows into the country. On the global front, the dollar was lower against the other major currencies, after the downbeat U.S. data continued to weigh the sentiments and as investors eyed the release of additional U.S. reports later in the day.
Finally, the rupee ended at 65.26, 4 paise stronger from its previous close of 65.30 on Thursday. The currency touched a high and low of 65.37 and 65.11 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.22 and for Euro stood at 71.66 on October 30, 2015. While, the RBI’s reference rate for the Yen stood at 53.92 the reference rate for the Great Britain Pound (GBP) stood at 99.9348. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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