Indian rupee ended lower on Monday due to month-end dollar demand from banks and importers. Though, domestic currency traded strong in the early deals, but the weak trade in the local equity markets weighed on the sentiments of the domestic currency and lost its momentum by last. On the global front, the dollar was subdued against euro and Yen after a drop in US market and bonds yields dimmed its allure with markets focused on whether the upcoming Federal Reserve policy meeting can lift the greenback. The US Federal Reserve meeting is on Tuesday and Wednesday.
Finally, the rupee ended at 64.17, 13 paise weaker from its previous close of 64.04 on Friday. The currency touched a high and low of 64.25 and 63.99 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.00 and for Euro stood at 70.61 on July 27, 2015. While, the RBI’s reference rate for the Yen stood at 51.85, the reference rate for the Great Britain Pound (GBP) stood at 99.4348. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
