Snapping its five-days losing streak, Indian rupee ended marginally stronger against dollar on Wednesday due to dollar sales by banks and exporters. The domestic currency looked strong from the very beginning but losses in the equity market capped some rupee gains. Sentiment got some support with the government stating that the fall in foreign portfolio investments may not have any major macroeconomic impact as long as capital flows are adequate to finance current account deficit. On the global front, euro rose on Wednesday back towards one-month highs hit after last week's unexpectedly cautious policy moves by the European Central Bank.
Finally, the rupee ended at 66.83, 1 paise stronger against its previous close of 66.84 on Tuesday. The currency touched a high and low of 66.92 and 66.72 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.75 and for Euro stood at 72.89 on December 09, 2015. While, the RBI’s reference rate for the Yen stood at 54.40 the reference rate for the Great Britain Pound (GBP) stood at 100.2919. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
