The Reserve Bank of India today fixed the reference rate of the rupee at 67.8867 against the U.S. dollar and 75.0623 for the euro.
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The rupee firmed up by 14 paise to 67.54 against the dollar on Thursday following sustained selling of the United States currency by exporters and banks, with a higher opening in the equity market backing it up. Besides, sustained selling of the American currency by banks and exporters too supported the domestic currency.
The partially convertible currency is now trading at 67.46, stronger by 6 paise from its previous close of 67.52 on Thursday.
Meanwhile, the dollar index fell by 0.21 pct against a basket of six currencies in the late evening trade.
The RBI fixed the reference rate for the dollar at 67.7443 and for the euro at 75.0200. The domestic unit hovered in a range of 68.08 and 67.81 during the day.
The US dollar was weak against the major world currencies in overseas markets which also strengthened the rupee sentiment, dealers said.
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The benchmark six-month premium for November declined to 170.5-172.5 paise from 174-176 paise yesterday and forward May 2017 contract also moved down to 367.5-369.5 pasie from 369-371 paise.
