Indian rupee weakened against the US dollar on Wednesday due to higher demand for the American currency from importers amid foreign fund outflows. Foreign institutional investors (FIIs) emerged as net sellers in capital markets, pulling out Rs 237.47 crore on Tuesday, provisional exchange data showed. Further, a strengthening US dollar against major global currencies also dampened sentiment. However, lower crude prices and firm domestic equity markets restricted fall of domestic unit to some extent. On the global front, the US dollar hovered near a 22-month high against its peers on after strong US housing data further eased concerns towards the world’s biggest economy.
The partially convertible currency is currently trading at 69.85, weaker by 23 paise from its previous close of 69.62 on Tuesday. The currency touched a high and low of 69.9025 and 69.7500 respectively. The reference rate for the dollar stood at 69.74 and for Euro stood at 78.42 on April 23, 2019. While the reference rate for the Yen stood at 62.34, the reference rate for the Great Britain Pound (GBP) stood at 90.54.
| Date | 1US$ | 1GBP |
| April 23, 2019 | 69.7474 | 90.5428 |
| April 22, 2019 | 69.7423 | 90.6362 |
(Reference Rate)
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