Rupee closes 16 paise higher at 66.89/$

India Infoline News Service | Mumbai | October 18, 2016 17:24 IST

Besides, dollar’s weakness against other currencies overseas on an unexpected fall in US manufacturing index supported the rupee uptrend.

The Indian rupee closed higher against US Dollar due to fresh selling of dollar by banks and exporters and also rally in domestic equities.

Besides, dollar’s weakness against other currencies overseas on an unexpected fall in US manufacturing index supported the rupee uptrend.

On the international front, US dollar weakened moderately against Euro and Japanese Yen. British Pound also managed some recovery despite speculation that British Finance Minister, Phillip Hammond will quit after he was excluded from government meetings as he criticized the tough stance of PM Theresa May on Brexit negotiations.

The Indian currency ended higher by 16 paise at 66.73/$. The local unit had hit a high of 66.83 and a low of 66.98 today.

The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.72 and for the Euro stood at 73.54. The RBI’s reference rate for the Yen stood at 64.14; reference rate for the Great Britain Pound (GBP) stood at 81.7136.
 

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