Indian rupee ended marginally lower against the American currency on Tuesday, due to fresh dollar demand from banks and importers. Investors remained concerned ahead of the Reserve Bank of India (RBI) monetary policy announcement due tomorrow. Traders took note of a private report indicated that India's economy needs external capital flow to grow at 9% and touch $5 trillion in the next five years. However, positive trend in equity market helped in restricting the slide in the Indian unit. On the global front, US dollar continued to decline against a basket of currency majors due to tense trade relations between the US and China.
Finally, the rupee ended at 70.81, 8 paise weaker from its previous close of 70.73 on Monday. The currency touched a high and low of 70.89 and 70.47 respectively. The reference rate for the dollar stood at 70.35 and for Euro stood at 78.26 on August 5, 2019. While the reference rate for the Yen stood at 66.42, the reference rate for the Great Britain Pound (GBP) stood at 85.25.
