Extending its rising streak for the fourth day, Indian rupee ended stronger against dollar on increased selling of the American currency by exporters and banks amidst continued foreign fund inflows and gains in Asian currencies. The sentiment improved following the US Federal Reserve chief Janet Yellen’s comments. Besides smart rally in the local equity market also buttress the domestic currency. Further, hopes of a rate cut by the RBI at its monetary policy review on April 5 too supported domestic currency. On the global front, yen strengthened against the dollar after U.S. Federal Reserve Chair Janet Yellen called for caution on raising interest rates, with the stronger yen weighing on Japan's exporters.
Finally, the rupee ended at 66.38, 16 paise stronger from its previous close of 66.54 on Tuesday. The currency touched a high and low of 66.50 and 66.32 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.41 and for Euro stood at 75.03 on March 30, 2016. While the RBI’s reference rate for the Yen stood at 59.11, the reference rate for the Great Britain Pound (GBP) stood at 95.6311. The reference rates are based on 12 noon rates of a few select banks in Mumbai
