Indian rupee weakened against US dollar on Thursday ahead of the Reserve Bank of India's policy decision and foreign fund outflows. Foreign institutional investors (FIIs) emerged as the net sellers in the capital markets on Wednesday, pulling out Rs 1,040.48 crore, as per the provisional data. There are expectorations that the Reserve Bank of India (RBI) may cut key lending rates by another 25 basis points to boost economic activities amid fears of global slowdown impacting domestic growth prospects. Furthermore, strengthening of the US dollar against some currencies overseas, also added pressure on the rupee. Though, easing crude prices capped the downtrend momentum for the domestic unit. On the global front, the yen eased and the euro held firm to the dollar on Thursday as hopes of a trade deal between the United States and China lifted risk appetite globally, while the sterling gained after the UK parliament approved legislation to seek a Brexit delay.
The partially convertible currency is currently trading at 68.77, weaker by 36 paise from its previous close of 68.41 on Wednesday. The currency touched a high and low of 68.8650 and 68.5100 respectively. The reference rate for the dollar stood at 68.48 and for Euro stood at 76.88 on April 3, 2019. While the reference rate for the Yen stood at 61.45, the reference rate for the Great Britain Pound (GBP) stood at 90.02.
| Date | 1US$ | 1GBP |
| April 03, 2019 | 68.4896 | 90.0204 |
| April 02, 2019 | 69.1198 | 90.2119 |
(Reference Rate)
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