Indian rupee weakened against the US dollar on Monday as a sharp jump in global crude oil prices after a weekend drone attack on Saudi Arabia cut into global energy supplies and halved the kingdom’s oil production. Further, weak domestic equities and sustained foreign fund outflows too weighed on the rupee. Foreign institutional investors (FIIs) remained net sellers in the capital market, pulling out Rs 405.45 crore on Friday, provisional data with the exchanges showed.
The partially convertible currency is currently trading at 71.51, weaker by 59 paise from its previous close of 70.92 on Friday. The currency touched a high and low of 71.6000 and 71.4200 respectively. The reference rate for the dollar stood at 70.93 and for Euro stood at 78.56 on September 13, 2019. While the reference rate for the Yen stood at 65.64, the reference rate for the Great Britain Pound (GBP) stood at 87.65.
