Indian rupee ended unchanged compared to its previous close on Monday, as rising crude oil prices and concerns regarding US-China trade war kept investors edgy. The domestic currency was also weighed down by dollar's strengthen against some other currencies. However, traders took some support with Finance Minister Nirmala Sitharaman’s statement that India has become a highly competitive investment destination post corporate tax reduction as the rates are now lower than that in China and most Southeast Asian countries. On the global front, euro fell on Monday after German flash purchasing managers' index survey data for September was weaker than expected, raising more fears about the health of the economy.
Finally, the rupee ended unchanged from its previous close of 70.94 on Monday. The currency touched a high and low of 71.03 and 70.87 respectively. The reference rate for the dollar stood at 70.93 and for Euro stood at 78.44 on September 20, 2019. While the reference rate for the Yen stood at 65.76, the reference rate for the Great Britain Pound (GBP) stood at 89.21.
