Indian rupee ended considerably lower against the US dollar on Monday, on increased demand for the greenback from importers and banks. Besides, losses in equity markets also put pressure on Indian rupee. Traders were seem to be in sideline despite report that foreign portfolio investors (FPI) pumped in Rs 54,980 crore in Indian markets in December so far amidst availability of excess liquidity in global markets and expectation of fresh stimulus package by various central banks, among others. As per the depositories’ data, FPIs invested a net Rs 48,858 crore into equities and Rs 6,122 crore into debt segment between December 1 and 18. On the global front; pound and the euro fell on Monday as investors sought refuge in the dollar, after a fast-spreading new coronavirus strain shut down much of the United Kingdom and disrupted international freight amid Brexit talks uncertainties.
Finally, the rupee ended at 73.79, 23 paise weaker from its previous close of 73.56 on Friday. The currency touched a high and low of 73.81 and 73.63 respectively. The reference rate for the dollar stood at 73.51, and for Euro stood 90.03 on December 18, 2020. While the reference rate for the Yen stood at 71.10, the reference rate for the Great Britain Pound (GBP) stood at 99.49.
