Indian rupee weakened against the US dollar on Wednesday after crude price rose to a four-month high in global market and caution ahead of the outcome of the Federal Open Market Committee (FOMC) meeting. Further, increased demand for the American currency from importers too weighed on the domestic unit, but weakness in the dollar against a basket of currencies limited the fall. Meanwhile, Foreign institutional investors (FIIs) bought shares worth Rs 2,132.36 crore on a net basis Tuesday, provisional data showed. On the global front, the dollar rose against most of its peers on Wednesday as reports of renewed tension in US-China trade negotiations supported safe-haven bids, although the Federal Reserve’s policy meeting later due in the day limited the greenback’s gains.
The partially convertible currency is currently trading at 69.09, weaker by 13 paise from its previous close of 68.96 on Tuesday. The currency touched a high and low of 69.1700 and 69.0325 respectively. The reference rate for the dollar stood at 68.58 and for Euro stood at 77.81 on March 19, 2019. While the reference rate for the Yen stood at 61.66, the reference rate for the Great Britain Pound (GBP) stood at 91.00.
| Date | 1US$ | 1GBP |
| March 19, 2019 | 68.5847 | 91.0069 |
| March 18, 2019 | 68.6088 | 91.1184 |
(Reference Rate)
