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Rupee weakens on strengthening of American currency against some currencies overseas

21 Dec 2018 Evaluate

Indian rupee weakened against the US dollar on Friday amid strengthening of the American currency against some currencies overseas and foreign fund outflows. Besides, increased demand of the US currency from importers, lower opening in domestic equity market, and rising crude prices too weighed on the rupee. On the global front, the dollar hovered near a one-month low against its peers on Friday, weighed down by a subdued outlook toward US interest rates and the economy, while risk aversion in the broader markets boosted the yen.

The partially convertible currency is currently trading at 69.92, weaker by 22 paise from its previous close of 69.70 on Thursday. The currency touched a high and low of 70.0700 and 69.7200 respectively. The reference rate for the dollar stood at 70.28 and for Euro stood at 80.05 on December 20, 2018. While the reference rate for the Yen stood at 62.79, the reference rate for the Great Britain Pound (GBP) stood at 88.84.

Date1US$1GBP
December 20, 201870.283588.8454
December 19, 201870.109488.7431

(Reference Rate)

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