Indian rupee weakened against the US dollar on Wednesday amid strengthening of the US dollar against other currencies overseas. Though, foreign fund inflows and easing crude oil prices supported the domestic currency and restricted its losses. Foreign institutional investors (FIIs) purchased shares worth Rs 1,248.47 crore on Tuesday, exchange data showed. On the global front, the pound extended its slide as Britain’s fixing of a fresh Brexit deadline rekindled fears of a chaotic exit from the European Union, while the dollar won back lost ground.
The partially convertible currency is currently trading at 71.08, weaker by 10 paise from its previous close of 70.98 on Tuesday. The currency touched a high and low of 71.1100 and 71.0650 respectively. The reference rate for the dollar stood at 70.94 and for Euro stood at 79.00 on December 16, 2019. While the reference rate for the Yen stood at 64.85, the reference rate for the Great Britain Pound (GBP) stood at 94.96.
