Extending gains for the eighth straight session, Indian rupee ended marginally stronger against dollar on Friday, due to selling of greenback by banks and importers. Local currency got some support with the American industry bodies lauding the Budget, saying Finance Minister Arun Jaitley has done an 'admirable job' in creating a vision that will propel the domestic economy while remaining cognizant about foreign investors eying the Indian market. The domestic currency looked strong from the very beginning but losses in the equity market capped some rupee gains. On the global front, dollar gained against yen on Friday after the Bank of Japan offered to buy Japanese government bonds in a surprise operation aimed at bringing down JGB yields, as investors awaited US jobs data later in the day.
Finally, the rupee ended at 67.31, 6 paise stronger from its previous close of 67.37 on Thursday. The currency touched a high and low of 67.42 and 67.29 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.38 and for Euro stood at 72.44 on February 03, 2017. While the RBI’s reference rate for the Yen stood at 59.60, the reference rate for the Great Britain Pound (GBP) stood at 84.32.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
