Indian rupee weakened against the US dollar on Thursday on uncertainty over the Sino-US trade deal weighed on investor sentiment. Reports showing that a meeting between US President Donald Trump and Chinese President Xi Jinping to sign a long-awaited interim trade deal could be delayed until December as discussions continue over terms and venue. Though, sustained foreign fund inflows, firm domestic equities and easing crude oil prices supported the domestic currency and restricted its losses. Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,011.49 crore on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 71.02, weaker by 5 paise from its previous close of 70.97 on Wednesday. The currency touched a high and low of 71.11 and 71.01 respectively. The reference rate for the dollar stood at 70.72 and for Euro stood at 78.70 on November 5, 2019. While the reference rate for the Yen stood at 65.01, the reference rate for the Great Britain Pound (GBP) stood at 91.11.
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