Rupee holds strong for 5 days on a trot

Rupee gained 4 paise against USD on 28-9-2016 which was the 5th trading day. This gain in rupee is due to the continuous selling of the dollars by the exporters and bankers. Mexican peso dominated against the USD at the New York Market yesterday.

Rupee has gained about 56 paise in last five days of trading which amounts to 0.84 percent. At the Interbank Foreign Exchange (Forex) market, Rupee closed at 66.50 yesterday and opened today at 66.46 which was 4 paise higher than yesterday. It had reached a high of 66.43 and a low of 66.49 before it closed at 66.46 which was 0.06 percent higher.

The reference rate for dollar fixed by RBI (Reserve Bank of India) was 66.4482 while euro was fixed at 74.4552. In cross cirrency trades, the rupee fell further against pound to end at 86.52 which was 32 paise higher. While against euro, rupee had shown a strong hold by ending at 74.51 by gaining 22 paise.

This article was posted on 2016-09-28.

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