Indian rupee strengthened further on Tuesday, maintaining its upward trend for the fourth straight day on sustained selling of the US currency by exporters and banks and also tracking the gains in its Asian peers. The currency in the region strengthened, as Hillary Clinton was seen as outperforming Donald Trump in the first US presidential debate, improving risk sentiments. The domestic currency made a positive start and was supported by good gains in the equity markets, though the stock markets pared gains, rupee remained firm and ended with good gains. On the global front, the dollar held steady against the other major currencies on Tuesday, on the other hand the pound edged lower.
Finally, the rupee ended at 66.48, 13 paise stronger from its previous close of 66.61 on Monday. The currency touched a high and low of 66.53 and 66.43 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.46 and for Euro stood at 74.73 on September 27, 2016. While the RBI’s reference rate for the Yen stood at 65.84, the reference rate for the Great Britain Pound (GBP) stood at 86.34.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
