Dollar closed at 64.4150 against its opening at 64.5200. Dollar in the offshore market traded down during European trades tracking the fall in the spot pair on selling by banks ahead of F&O contract expiry dated Nov 28. In prepared testimony released by the Fed on Monday, Powell said Fed officials continue to expect interest rates to rise "somewhat further" and the size of its balance sheet to shrink gradually. The Senate confirmation hearing for Jerome Powell, US President Donald Trump's nominee for Federal Reserve chair, is due to take place on Tuesday. Markets are likely to focus on Powell's views on inflation. Also, Gross Domestic Product from both US and India is awaited later this week, along with Federal Reserve Chair Janet Yellen's testimony.

The greenback remained steady against major peers as euro and pound pared their gains after they surged on the release of European Central Bank monetary policy meet minutes, which showed extension of its quantitative easing programme. On the US data front, new home sales jumped to their highest level to 685,000 in a decade in October from 645,000 in September. It rose 6.2% and analysts expected a fall of 6%.

Nifty provisionally ends 37 points down with 31 components in the red.

INTERNATIONAL

Asian shares stepped back from decade highs as Chinese stocks stumbled for a second straight session, while the U.S. dollar trod water ahead of a crucial Senate vote on tax reform.
 

Oil prices slipped in Asian trade amid uncertainty over a possible extension of output cuts by major crude producers and expectations of higher supply as the Keystone pipeline restarts.
 

Activity in China’s manufacturing sector likely grew at a slightly slower pace in November, a Reuters poll showed, as export orders softened and tough pollution measures forced many northern steel mills and factories to curb production.
 

Gold prices edged lower but held not far off a six-week high hit in the previous session, as investors awaited a confirmation hearing for U.S. Federal Reserve chair nominee Jerome Powell and a possible Senate vote on U.S. tax reforms.