Indian rupee ended stronger against dollar on Tuesday, as optimism about US-China trade talks and easing crude oil prices enthused investors. Traders also remained optimistic with commerce and industry minister Piyush Goyal’s statement that in a clear sign that India and the US are close to finding common ground on their outstanding trade issues that started looking intractable. However, dollar’s strength against major global currencies overseas along with lackluster trade in the equity markets restricted the further up move. On the global front, euro was steady on Tuesday after rising to a two-month high in the previous session versus the dollar as traders waited for the British parliament to vote on the Withdrawal Agreement Bill as it will shine light on when and how Britain will exit the EU.
Finally, the rupee ended at 70.94, 20 paise stronger from its previous close of 71.14 on Friday. The currency touched a high and low of 71.01 and 70.84 respectively. The reference rate for the dollar stood at 71.19 and for Euro stood at 79.18 on October 18, 2019. While the reference rate for the Yen stood at 65.58, the reference rate for the Great Britain Pound (GBP) stood at 91.51.
