Indian rupee ended lower against greenback on Tuesday on increased demand for the greenback from importers and banks. This is the third consecutive session when the rupee is traded lower against dollar. Traders were worried as Crisil ratings report states that the demand growth for petrol and diesel is going to be severely impacted due to push towards compressed natural gas (CNG), ethanol blending and electric vehicles. However, downfall remain capped as country's exports rose 18.8 per cent to $20.01 billion during the three week period of this month (November 1-21), due to healthy growth in sectors such as petroleum products, engineering goods, chemicals and gems and jewellery. Meanwhile, Commerce Minister Piyush Goyal and US Trade Representative Katherine Tai relaunched the Trade Policy Forum (TPF) and agreed to engage on issues which are affecting the trade between the two countries. On the global front; sterling slipped on Tuesday but was near the 21-month high touched against the euro in the previous session with traders weighing how a COVID-19 resurgence in the eurozone will impact Britain.
Finally, the rupee ended 74.42 (provisional), weaker by 3 paise from its previous close of 74.39 on Monday. The currency touched a high and low of 74.51 and 74.31 respectively.
