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Rupee ends marginally weaker against US dollar
Aug-09-2019

Indian rupee ended marginally weaker against the US dollar on Friday, due to increased demand of the greenback from the importers and the banks. Investors remained concerned ahead of key macro data - index of industrial production (IIP) for June scheduled to be released later today. However, losses remain capped as traders found some support with Finance Minister Nirmala Sitharaman assuring industry leaders that the RBI and the government are on the 'same page' and making efforts to boost the economy. On the global front, Sterling has hit a near-ten year low against the euro after data unexpectedly showed that British gross domestic product contracted in the second quarter for the first time since 2012.

Finally, the rupee ended at 70.78, 9 paise weaker from its previous close of 70.69 on Thursday. The currency touched a high and low of 70.44 and 70.78 respectively. The reference rate for the dollar stood at 70.84 and for Euro stood at 79.39 on August 8, 2019. While the reference rate for the Yen stood at 66.76, the reference rate for the Great Britain Pound (GBP) stood at 86.15.

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