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Rupee weakens marginally against US dollar on Thursday
Nov-14-2019

Indian rupee weakened marginally against US dollar on Thursday, tracking weak macroeconomic data and lingering concerns over Sino-US trade deal. Data showed that inflation in October rose to 4.62% compared to 4% in the previous month following an uptick in retail food prices. India’s Retail inflation for the month of October breached the Reserve Bank of India’s (RBI) medium-term target of 4% for the first time in 15 months. Further, rising crude prices also added pressure on the domestic currency. Meanwhile, the Foreign Institutional Investors (FII) bought shares worth Rs 584.92 crore on Wednesday, exchange data showed.

The partially convertible currency is currently trading at 72.11, weaker by 2 paise from its previous close of 72.09 on Wednesday. The currency touched a high and low of 72.2450 and 72.0150 respectively. The reference rate for the dollar stood at 71.44 and for Euro stood at 78.75 on November 11, 2019. While the reference rate for the Yen stood at 65.57, the reference rate for the Great Britain Pound (GBP) stood at 91.41.

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