The Reserve Bank of India today fixed the reference rate of the rupee at 65.0530 against the US dollar and 80.0347 for the euro.
The Reserve Bank of India today fixed the reference rate of the rupee at 65.0530 against the US dollar and 80.0347 for the euro.
The corresponding rates were 65.2261 and 79.5041, Mar 01.
The according to an RBI statement, the exchange rates for the pound and the yen against the rupee were 89.6951 and 61.64 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon.
The SDR-rupee figure will be based on this rate, the statement added.
In opening trade, the rupee firmed 9 paise to 65.08 against the dollar after the greenback came under pressure as US President Donald Trump's comments raised concerns of a global trade war.
Trump on Friday said trade wars were good and easy to win. His plan to put tariffs on steel and aluminium imports triggered negative sentiments across overseas markets.
Forex dealers said weakness in the dollar against some other currencies overseas and foreign capital inflows in the domestic equity markets supported the rupee.
According to provisional exchange data, foreign portfolio investors (FPIs) bought shares worth a net Rs 241.85 crore on net basis on Thursday.
On Thursday, the rupee failed to benefit from highly bullish macroeconomic trends and ended virtually stable at 65.17 against the US dollar even as India regained title of world's fastest-growing major economy amid imminent Fed rate hike fears.
Meanwhile, the BSE Sensex fell 252 points to drop below the 34,000 mark and NSE Nifty shed over 90 points in opening trade today on heavy losses in metal, auto, oil and Gas, banking and PSU stocks after US President Donald Trump fuelled concerns of a global trade war.
Asian markets too turned negative as the fallout from Trump's steel and aluminium tariffs continued to spook investors and dampen market sentiment here, brokers said.
The 30-share barometer shed 251.56 points, or 0.73 per cent, to 33,795.38. The gauge had lost 398.81 in the
previous three sessions.
All sectoral indices led by metal, auto, oil & gas banking and PSU stocks were trading in the negative terrain.
(With inputs from PTI)
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 "RBI sets rupee reference rate at 65.0530 against US dollar")
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