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Rupee weakens against US dollar on Monday
Jan-18-2021

Indian rupee weakened against the US dollar on Monday due to the strength of American currency following softening US economic data and rising corona virus cases globally, while weak domestic equities too pressured rupee sentiment. Though, sustained foreign fund flows into the domestic equity markets capped the fall. Foreign Institutional Investors (FIIs) bought shares worth Rs 971.06 crore, while Domestic Institutional Investors (DIIs) sold of Rs 942.07 crore in the Indian equity market on Friday, exchange data showed.

The partially convertible currency is currently trading at 73.20, weaker by 13 paise from its previous close of 73.07 on Friday. The currency touched a high and low of 73.2650 and 73.2000 respectively. The reference rate for the dollar stood at 73.02, and for Euro stood 88.64 on January 15, 2021. While the reference rate for the Yen stood at 70.37, the reference rate for the Great Britain Pound (GBP) stood at 99.82.

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