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Rupee weakens against US dollar despite firm trend in equities

05 Apr 2019 Evaluate

Indian rupee weakened against US dollar on Friday despite firm trend in domestic equities. Yesterday, the rupee had plunged after Reserve Bank of India (RBI) in its policy meeting cut the repo rate by 25 bps and kept the monetary policy stance neutral. On the global front, the dollar scaled a three-week high versus the yen, lifted by expectations that a protracted trade dispute between the United States and China would be resolved soon.

The partially convertible currency is currently trading at 69.22, weaker by 5 paise from its previous close of 69.17 on Thursday. The currency touched a high and low of 69.2500 and 69.0500 respectively. The reference rate for the dollar stood at 68.84 and for Euro stood at 77.38 on April 4, 2019. While the reference rate for the Yen stood at 61.82, the reference rate for the Great Britain Pound (GBP) stood at 90.76.

Date1US$1GBP
April 04, 201968.844690.7675
April 03, 201968.489690.0204

(Reference Rate)

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