Indian rupee recouping its early losses, snapped its two-days losing streak to end stronger on Monday against dollar due to dollar selling by exporters. Some support also came with the report that India's overall financial conditions have shown a healthy improvement, thanks to low cost of funds, strong liquidity, better external financial linkages and uptick in economic activity. Meanwhile, investors remained cautious ahead of RBI's fifth bi-monthly monetary policy review tomorrow and the important Q2 GDP data announcement later in the day. On the global front, euro fell against dollar on Monday, before a European Central Bank (ECB) meeting on Thursday that is expected to unveil fresh monetary easing measures.
Finally, the rupee ended at 66.66, 10 paise stronger from its previous close of 66.76 on Friday. The currency touched a high and low of 66.86 and 66.62 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.81 and for Euro stood at 70.68 on November 30, 2015. While, the RBI’s reference rate for the Yen stood at 54.41 the reference rate for the Great Britain Pound (GBP) stood at 100.3692. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
