Indian rupee after slipping to its fresh two years low in last session on poor trade balance figures, bounced back on Tuesday, on fresh selling of the American currency by exporters. Positive cues from other Asian currencies too supported the rupee, though it pared most of its gains by last. The domestic currency remained in optimistic mood from the very beginning and the positive start, followed by good gains in the local equity markets strengthened the rupee further. Also, it was said that RBI through state-owned banks sold dollars to stem up the rupee. On the global front, the euro remained slightly lower against the dollar on Tuesday after a report showing that German economic sentiment deteriorated this month.
Finally, the rupee ended at 67.65, 3 paise stronger from its previous close of 67.68 on Monday. The currency touched a high and low of 67.73 and 67.52 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.56 and for Euro stood at 73.50 on January 19, 2016. While the RBI’s reference rate for the Yen stood at 57.37, the reference rate for the Great Britain Pound (GBP) stood at 96.4192. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
