Indian rupee weakened against US dollar on Tuesday amid rising demand for the American currency against other currencies overseas. Further, unabated foreign fund outflows and surging crude oil prices after twin drone attacks on Saturday wiped out more than half of Saudi Arabia's crude supply, are also weighing on the domestic currency. Foreign institutional investors (FIIs), who were net buyers for the past few sessions, offloaded shares worth Rs 751.26 crore on Monday, according to provisional exchange data.
The partially convertible currency is currently trading at 71.79, weaker by 19 paise from its previous close of 71.60 on Monday. The currency touched a high and low of 71.8800 and 71.7300 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.
