Indian rupee despite losing some traction in final hours, maintained its gaining streak on Tuesday. It was sixth straight session of gains for the domestic currency on persistent selling of dollars by banks and exporters, the rupee has stablised for last couple of days on suspected RBI intervention, however the weakness in the local equity markets weighed on the sentiments and capped the gains of the rupee. In early trade the recovery in equities and gains in most Asian currencies strengthened the rupee, but in late trade lack of direction was visible and the rupee just managed a positive close. On the global front, the dollar trended lower against the other major currencies, as investors remained cautious ahead of the release of US economic growth data due later in the day.
Finally, the rupee ended at 66.33, 2 paise stronger against its previous close of 66.35 on Monday. The currency touched a high and low of 66.34 and 66.27 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.29 and for Euro stood at 72.33 on December 22, 2015. While, the RBI’s reference rate for the Yen stood at 54.68 the reference rate for the Great Britain Pound (GBP) stood at 98.7052. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
