Indian rupee extended their gaining streak on Thursday, supported by the second consecutive day of rally in the local equity markets. The domestic currency that made a flat start picked up pace in the latter trade after the local equity market started moving higher . The rupee also got support with increased selling of the US currency by exporters and banks. The gains in Asian peers also boosted the sentiment for the rupee, most of the other Asian currencies gained for the day. On the global front, the dollar slipped against the other major currencies, with traders locking in profits from the greenback’s recent rally to two-month highs, awaiting the release of US jobless claims and durable goods orders data later in the day.
Finally, the rupee ended at 67.17, 16 paise stronger from its previous close at 67.33 on Wednesday. The currency touched a high and low of 67.60 and 67.31 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.28 and for Euro stood at 75.21on May 26, 2016. While the RBI’s reference rate for the Yen stood at 61.34, the reference rate for the Great Britain Pound (GBP) stood at 98.9501. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
