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Rupee weakens against US dollar on Tuesday
Jul-07-2020

Indian rupee weakened against the US dollar on Tuesday as surging corona virus cases dragged down investor sentiment. Health ministry data showed the death toll in India due the corona virus rose to 20,160 and the number of infections crossed the 7 lakh-mark, while the number of cases around the world has crossed 1.15 crore with the death toll topped at 5.37 lakh. Though, foreign fund inflows and weakness in American currency supported the rupee and capped its fall. Foreign Institutional Investors (FIIs) bought shares worth Rs 348.35 crore on Monday, exchange data showed.

The partially convertible currency is currently trading at 74.84, weaker by 16 paise from its previous close of 74.68 on Monday. The currency touched a high and low of 74.9200 and 74.6800 respectively. The reference rate for the dollar stood at 74.78 and for Euro stood at 84.04 on July 03, 2020. While the reference rate for the Yen stood at 69.56, the reference rate for the Great Britain Pound (GBP) stood at 93.27.

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