Indian rupee ended marginally higher against dollar on Friday due to sustained selling of the US currency by exporters and banks. Sentiments got support with report that the government gave some relief to taxpayers availing of transitional input tax credit under the Goods and Services Tax (GST) regime by giving them an extra week till 28 August 28 to file tax returns. The domestic unit also found some support from dollar weakened overseas. However, the rupee's gains were restricted as the domestic equities remained weak. On the global front, yen was the major mover among the G10 group of developed world currencies on Friday, gaining another half per cent against the dollar as nerves over stock market valuations and the future of an 8-year global rally seeped into other assets.
Finally, the rupee ended at 64.14, 1 paise stronger from its previous close of 64.15 on Wednesday. The currency touched a high and low of 64.17 and 63.08 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.10 and for Euro stood at 75.20 on August 18, 2017. While the RBI’s reference rate for the Yen stood at 58.63, the reference rate for the Great Britain Pound (GBP) stood at 82.61. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
