The Indian rupee closed lower against the US Dollar on sustained bouts of dollar demand from importers and banks amid lower domestic equities.
On the global front, the US Federal Reserve and the Bank of Japan are both scheduled to deliver their latest monetary policy decisions on Wednesday.
The Indian currency ended lower by five paise at 67/$. The local unit had hit a high of 67.06 and a low of 67.09. 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.