Indian rupee weakened against the US dollar on Wednesday on back of increased demand for the American currency from importers and banks. Further, strengthening of the American currency in overseas market too weighed on the domestic currency. Though, fresh foreign fund inflows, easing crude prices and firm domestic equities too supported the rupee and restricted the fall. Foreign investors put in Rs 751.92 crore on a net basis in capital markets Tuesday, provisional exchange data showed. On the global front, the dollar held gains against its peers on Wednesday, buoyed by better-than-expected data, while the Aussie took a knock after Australia’s economic growth slowed last quarter.
The partially convertible currency is currently trading at 70.53, weaker by 4 paise from its previous close of 70.49 on Tuesday. The currency touched a high and low of 70.6750 and 70.4925 respectively. The reference rate for the dollar stood at 70.760 and for Euro stood at 80.15 on March 5, 2019. While the reference rate for the Yen stood at 63.23, the reference rate for the Great Britain Pound (GBP) stood at 93.11.
| Date | 1US$ | 1GBP |
| March 05, 2019 | 70.7601 | 93.1179 |
| March 01, 2019 | 70.9696 | 94.0868 |
(Reference Rate)
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