Indian rupee ended flat against dollar on Tuesday due to month-end demand for the American currency from importers. Besides, weak trade in the local equity market too hit the sentiment of the domestic currency. Meanwhile, Moody's Investors Services projecting Indian economy’s growth at 7 per cent in the current fiscal and 7.5 per cent in the next one has said that GDP growth and low oil prices will lead to higher fuel consumption over the next 18 months. However, dollar's weakness against other currencies overseas capped rupee losses. On the global front, euro has continued its post-ECB slide, dropping against the dollar on Tuesday ahead of Wednesday's Fed meeting.
Finally, the rupee ended flat at its previous close of 64.96 on Monday. The currency touched a high and low of 64.99 and 64.93 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.95 and for Euro stood at 71.84 on October 27, 2015. While, the RBI’s reference rate for the Yen stood at 53.83 the reference rate for the Great Britain Pound (GBP) stood at 99.7324. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
