Rupee ends strong for second straight session on Thursday

Indian rupee appreciated for second consecutive session on Thursday on increased selling of the American currency by exporters and banks. Further, smart rally of local equities and dollar weakness overseas also supported the domestic currency. Meanwhile, a private rating agency has said that the rupee is likely to remain steady for the rest of the fiscal helped by strong macroeconomic fundamentals among the emerging markets, which will lead to higher capital inflows and a comfortable balance of payment situation. On the global front, the dollar fell lowest against the other major currencies, as the previous session's downbeat U.S. economic data continued to weigh on demand for the greenback.

Finally, the rupee ended at 64.82, 21 paise stronger from its previous close of 65.03 on Wednesday. The currency touched a high and low of 64.87 and 64.71 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.82 and for Euro stood at 74.50 on October 15, 2015. While, the RBI’s reference rate for the Yen stood at 54.61 the reference rate for the Great Britain Pound (GBP) stood at 100.4124. The reference rates are based on 12 noon rates of a few select banks in Mumbai.