Indian rupee ended marginally lower against US dollar on Thursday, due to fresh demand for the American currency from banks and importers. Traders remained cautious ahead for the Q4 GDP data to be released on May 31, while there are expectations that numbers are likely to be weak. Moreover, the domestic currency was also weighed down by dollar's strengthen against some other currencies overseas. However, losses were limited as traders found some support with a report that the Department for Promotion of Industry and Internal Trade (DPIIT) has proposed to formulate a national retail policy to support growth of domestic trade. On the global front, pound held near a four-month low against the dollar and the euro on Thursday as investors remained sidelined amid the contest to succeed Prime Minister Theresa May.
Finally, the rupee ended at 69.87, 4 paise weaker from its previous close of 69.83 on Wednesday. The currency touched a high and low of 69.93 and 69.71 respectively. The reference rate for the dollar stood at 69.88 and for Euro stood at 78.00 on May 30, 2019. While the reference rate for the Yen stood at 63.97, the reference rate for the Great Britain Pound (GBP) stood at 88.47.
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