Indian rupee ended weaker against the American currency on Monday, due to fresh dollar demand from banks and importers. Sentiments remained down-beat as India’s Wholesale price index (WPI) inflation rose to 0.58% in the month of November 2019 as against 0.16% for the previous month and 4.47% during the corresponding month of the previous year. Some concern also came in as India’s exports contracted for the fourth month in a row in November, dipping 0.34% to $25.98 billion. Besides, lackluster trade in local equity markets weighed on the rupee. On the global front, pound pared earlier advances following disappointing economic data, as the gloomy economic picture countered the optimism in the market following the decisive Conservative victory in last week’s election.
Finally, the rupee ended at 71.00, 17 paise weaker from its previous close of 70.83 on Friday. The currency touched a high and low of 71.03 and 70.75 respectively. The reference rate for the dollar stood at 70.71 and for Euro stood at 78.97 on December 13, 2019. While the reference rate for the Yen stood at 64.53, the reference rate for the Great Britain Pound (GBP) stood at 95.27.
