Mumbai: The rupee on Tuesday ended at 63.37 versus the US dollar, down 54 paise or 0.86 per cent.
It opened 57 paise down at 63.40 per dollar as against previous close at 62.83 per dollar on Monday. The currency on Monday closed at a one-month high on hopes Sebi's steps to ease investment norms for overseas entities in government debt would attract more capital flows.
The rupee on Monday opened at 63.70 per dollar from 63.48 on Friday at the interbank foreign exchange market. It recovered to 62.45 before ending at 62.83 per dollar, a gain of 65 paise or 1.02 per cent. It was the highest level for the rupee since closing at 61.65 on August 16.
New RBI Governor Raghuram Rajan will review the monetary policy on September 20 amid expectations the rupee's recovery from an all-time low of 68.85 on August 28 would help to unwind some liquidity-tightening measures introduced by the central bank to curb exchange rate volatility. Meanwhile, the government is seeking to revive economic growth and curb the fiscal and current account deficits.
(With additional information from PTI)
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