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Rupee ends lower

MUMBAI APRIL 28. Late month-end dollar demand drove the rupee lower against the U.S. currency today in moderately active two-way trading at the interbank foreign exchange market, as traders brace for further pressures tomorrow, ahead of the central bank's monetary and credit policy announce- ment.

The rupee closed at 47.3750/3800 a dollar, an over two paise decline from the weekend level of 47.35/36 after dipping to intraday low of 47.38/39. It opened on a steady note at 47.35/36.

Meanwhile, rupee sentiment remained positive owing to falling global oil prices and rising forex reserves.

The RBI fixed the reference rate for the U.S. currency at Rs. 47.36. — PTI

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