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Rupee weakens on month-end demand for American currency from importers

25 Mar 2019 Evaluate

Indian rupee weakened against the US dollar on Monday on month-end demand for the American currency from importers. Besides, weak opening in domestic equity market too influencing rupee movement. Though, sustained foreign fund inflows and easing crude prices restricted the fall. Foreign portfolio investors (FPIs) bought equities worth Rs 1,374.57 crore Friday, provisional data showed. On the global front, the yen gained against its peers on Monday, touching a six-week peak versus the dollar, as fears in markets of a global economic slowdown fuelled demand for the Japanese currency.

The partially convertible currency is currently trading at 69.05, weaker by 10 paise from its previous close of 68.95 on Friday. The currency touched a high and low of 69.1700 and 69.0400 respectively. The reference rate for the dollar stood at 68.66 and for Euro stood at 78.13 on March 22, 2019. While the reference rate for the Yen stood at 61.97, the reference rate for the Great Britain Pound (GBP) stood at 90.27.

Date1US$1GBP
March 22, 201968.660790.2778
March 20, 201968.860491.2846

(Reference Rate)

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