Indian rupee ended marginally higher against dollar on Monday on fresh selling of the American currency by banks and exporters. Sentiments got some support with the private report stating that the Indian economy is expected to see a rebound in the July-September quarter of this year with a GVA growth rate of 6.3 percent. The domestic unit also found support from gains in local equity markets. However, the rupee gains were, to some extent, capped due to strengthening in dollar against some other currencies overseas. On the global front, dollar touched a three-month high against yen on Monday, with investors betting that an emphatic election victory for Japan's ruling party would see a continuation of the ultra-loose ‘Abenomics’ policy that have kept downward pressure on the yen.
Finally, the rupee ended at 65.01, 2 paise stronger from its previous close of 65.03 on Wednesday. The currency touched a high and low of 65.11 and 64.98 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 65.02 and for Euro stood at 76.51 on October 23, 2017. While the RBI's reference rate for the Yen stood at 57.17, the reference rate for the Great Britain Pound (GBP) stood at 85.83. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
