Rupee ends at 67.02 against US Dollar

India Infoline News Service | Mumbai | September 21, 2016, 17:35 IST

The Indian currency ended lower by five paise at 67.02/$. The local unit had hit a high of 67.06 and a low of 67.22.

The Indian rupee ended flat on Tuesday ahead of U.S. Federal Reserve meet to decide on interest rate. On the economy front, the Cabinet approved advancing presentation of the annual Budget by a month, scrapped the over nine-decade-old tradition of having a separate Railway Budget and removed classifications for expenditure to make the exercise simpler. The rupee gained on sustained bouts of dollar demand from importers and banks despite higher domestic equities.

The Bank of Japan refrained from cutting interest rates from -0.1% at its monetary policy meeting, choosing instead to modify its existing policy framework. The BOJ said it would continue to buy long-term government bonds at a pace that allows the balance of its holdings to increase by 80 trillion yen ($781 billion) per year.

The Indian currency ended lower by five paise at 67.02/$. The local unit had hit a high of 67.06 and a low of 67.22. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.02 and for Euro stood at 74.88. The RBI’s reference rate for the Yen stood at 65.86; reference rate for the Great Britain Pound (GBP) stood at 87.3740.
 

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