Indian rupee weakened against the US dollar on Monday, on fresh buying of the American currency by importers. Besides, India’s trade deficit widening to a more than three-and-a-half-year high of $16.6 billion due to costlier crude oil imports, too kept pressure on the rupee. Furthermore, US dollar’s strength against some currencies overseas too weighed on investor sentiment. On the global front, major currencies held around recent ranges on Monday thanks to a lull in China-US trade skirmishing and as investors await key data from the world’s two biggest economies to determine whether global growth is running out of puff.
The partially convertible currency is currently trading at 68.58, weaker by 4 paise from its previous close of 68.54 on Friday. The currency touched a high and low of 68.5950 and 68.5200 respectively.
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