Indian rupee weakened against the US dollar on Monday on account of increased demand for the American currency from importers amid foreign fund outflows. Besides, strength in dollar against major rival currencies and heavy selling in domestic equities, also added pressure on the rupee. Foreign institutional investors (FIIs) pulled out Rs 400.68 crore on a net basis Friday, provisional data showed. Though, easing crude prices helped in restricting the slide in the Indian unit to some extent. On the global front, the US President Donald Trump on Sunday signaled to raise tariffs on $200 billion worth of Chinese goods and this in turn impacted investor sentiment in the currency market.
The partially convertible currency is currently trading at 69.34, weaker by 12 paise from its previous close of 69.22 on Friday. The currency touched a high and low of 69.4650 and 69.3200 respectively. The reference rate for the dollar stood at 69.26 and for Euro stood at 77.33 on May 3, 2019. While the reference rate for the Yen stood at 62.13, the reference rate for the Great Britain Pound (GBP) stood at 90.24.
| Date | 1US$ | 1GBP |
| May 03, 2019 | 69.2679 | 90.2404 |
| May 02, 2019 | 69.5419 | 90.7870 |
(Reference Rate)
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