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Rupee weakens on strengthening of American currency overseas

02 Jul 2019 Evaluate

Indian rupee weakened against the US dollar on Tuesday amid strengthening of the American currency against other currencies overseas. Though, some easing in brent crude prices and foreign fund inflows supported the domestic currency and restricted the downfall. Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 426.53 crore Monday, as per provisional data.

The partially convertible currency is currently trading at 69.00, weaker by 6 paise from its previous close of 68.94 on Monday. The currency touched a high and low of 69.0525 and 68.9300 respectively. The reference rate for the dollar stood at 68.91 and for Euro stood at 78.35 on June 28, 2019. While the reference rate for the Yen stood at 63.97, the reference rate for the Great Britain Pound (GBP) stood at 87.34.

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