Extending its gains for second consecutive session, Indian rupee ended modestly stronger against dollar on Monday due to fresh selling of American currency by banks and exporters, tracking gains in Asian currencies markets. Besides, dollar’s weakness against some other currencies overseas and gains in local equity markets also supported the rupee. Meanwhile, investors remained cautious ahead of key economic data -industrial production (IIP) for February and consumer price index (CPI) data for March to be released tomorrow. On the global front, yen was down from 17-month high against the dollar on Monday after Japanese officials warned again that they could intervene against the currency's 'one-sided' rally.
Finally, the rupee ended at 66.43, 3 paise stronger from its previous close of 66.46 on Thursday. The currency touched a high and low of 66.49 and 66.32 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.39 and for Euro stood at 75.75 on April 11, 2016. While the RBI’s reference rate for the Yen stood at 61.53, the reference rate for the Great Britain Pound (GBP) stood at 93.7860. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
