Rupee ended weaker against dollar on Tuesday on account of continued dollar demand from importers and banks. Traders were cautious amid a private report stating that the 'second wave' of the pandemic is delaying business normalization in the country, as coronavirus infections rise in Maharashtra and other states. However, downfall was capped with private report that India is expected to be the third-largest economy in the world by 2031. India should touch Japan's nominal GDP (in USD) in 2031, if it grows at 9 per cent (and in 2030 if it grows at 10 percent). On the global front, pound fell to a two-week low against the dollar on Tuesday amid talk of the European Union banning vaccine exports to Britain, which relies heavily on imports for its COVID-19 vaccination drive.
Finally, the rupee ended 72.43, weaker by 6 paise from its previous close of 72.37 on Monday. The currency touched a high and low of 72.45 and 72.27 respectively. The reference rate for the dollar stood at 72.37, and for Euro stood 86.04 on March 22, 2021. While the reference rate for the Yen stood at 66.56, the reference rate for the Great Britain Pound (GBP) stood at 100.25.