Indian rupee ended marginally stronger against dollar in last session of the week on the back of fresh selling of the American currency by banks and exporters. Besides, gains in local equity market too supported the domestic currency. Further, some support came with IMF's indication that it may revise its estimate for global economic growth in its spring meeting but India is better placed than other emerging market countries. However, caution ahead of the release of domestic industrial output numbers kept the currency in a tight band. The government will announce Index of Industrial Production (IIP) data for January later in the day. On the global front, euro dipped on Friday after a shocking series of moves around Thursday's European Central Bank meeting which ended with its biggest gain in a month.
Finally, the rupee ended at 67.05, 2 paise stronger from its previous close of 67.07 on Thursday. The currency touched a high and low of 67.24 and 66.90 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.08 and for Euro stood at 74.94 on March 11, 2016. While the RBI’s reference rate for the Yen stood at 59.13, the reference rate for the Great Britain Pound (GBP) stood at 95.7530. The reference rates are based on 12 noon rates of a few select banks in Mumbai
