Erasing all the gains, Indian rupee ended marginally lower against dollar on Tuesday, on mild demand of dollar by banks and importers. Traders overlooked SBI’s report that the government is likely to achieve its fiscal deficit target of 3.2 percent this financial year as the budgeted disinvestment receipts are on track to realise Rs 72,500 crore. However, weakening of dollar against other currencies overseas limited the rupee's losses. On the global front, the US dollar held largely steady against major rivals Tuesday, with the euro not finding much action after figures indicated eurozone economic growth slowed slightly this month.
Finally, the rupee ended at 65.06, 5 paise weaker from its previous close of 65.01 on Monday. The currency touched a high and low of 65.10 and 64.89 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 64.92 and for Euro stood at 76.33 on October 24, 2017. While the RBI's reference rate for the Yen stood at 57.18, the reference rate for the Great Britain Pound (GBP) stood at 85.79. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
