Indian rupee ended weaker against dollar on Tuesday, due to fresh demand for the American currency from banks and importers and rising crude oil prices. Traders remained concerned as the country’s exports entered the negative zone after a gap of eight months. According to the government data, India’s exports fell by 9.71% in the month of June 2019 over the same period in the previous year, due to a fall in shipments of gems and jewellery, engineering goods and petroleum products. US dollar’s gain against other currencies overseas also weighed on the local unit. On the global front, euro fell on Tuesday as investors waited for a sentiment reading of Germany's economy, although the prospect of more central bank easing starting with the Federal Reserve later this month kept currency moves limited.
Finally, the rupee ended at 68.71, 17 paise weaker from its previous close of 68.54 on Monday. The currency touched a high and low of 68.76 and 68.52 respectively. The reference rate for the dollar stood at 68.58 and for Euro stood at 77.30 on July 15, 2019. While the reference rate for the Yen stood at 63.49, the reference rate for the Great Britain Pound (GBP) stood at 86.19.
