Indian rupee ended marginally lower against US dollar on Wednesday on account of fresh demand for the American currency from banks and importers. Traders remained wary with former RBI Governor Raghuram Rajan expressing doubts over Indian economy growing at 7% when not enough jobs were being created. He also said the current cloud over the GDP numbers must be cleared by appointing an impartial body to look at the data. Late hour selling in the domestic equity markets too weighed on the rupee sentiment. However, losses were limited as traders took some support with report that the RBI has received a good response to its dollar swap window on March 26, establishing the instrument as a credible liquidity tool and paving the way for more such auctions in the coming months. On the global front, pound hovered below a recent nine-month high on Wednesday before a series of indicative votes in the British parliament on how to break the Brexit impasse.
Finally, the rupee ended at 68.88, 2 paise weaker from its previous close of 68.86 on Tuesday. The currency touched a high and low of 68.98 and 68.76 respectively. The reference rate for the dollar stood at 68.86 and for Euro stood at 77.60 on March 27, 2019. While the reference rate for the Yen stood at 62.33, the reference rate for the Great Britain Pound (GBP) stood at 90.87.
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