The Indian rupee, extending its winning streak for fifth straight session, appreciated to near three-week high against dollar on Friday on continued selling of the US currency by banks and exporters triggered by its weakness overseas. Sentiments remained buoyant as industrial production grew to a 9-month high of 4.3% in August, while retail inflation came in at 3.28% in September. The domestic unit also found support with the World Bank chief’s statement that the reforms undertaken by Prime Minister Narendra Modi have been significant and the results would be reflected in the mid and long-term growth figures. Besides, massive gains of domestic equity market too kept the rupee on a firm ground. On the global front, dollar fell against yen on Friday as market awaited the US inflation data due out later in the day.
Finally, the rupee ended at 64.92, 16 paise stronger from its previous close of 65.08 on Thursday. The currency touched a high and low of 64.96 and 64.86 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 64.93 and for Euro stood at 76.87 on October 13, 2017. While the RBI's reference rate for the Yen stood at 58.01, the reference rate for the Great Britain Pound (GBP) stood at 86.30. The reference rates are based on 12 noon rates of a few select banks in Mumbai
