Indian rupee weakened against the US dollar on Friday amid strengthening of the American currency against other currencies overseas. Besides, rising crude oil prices too weighed on domestic currency. Rupee fell further after the Reserve Bank of India said it will conduct a simultaneous sale and purchase of bonds, in a move seen by market participants as an attempt to bring longer-term yields lower. Though, sustained foreign fund inflows added support to local unit and restricted its down move. Foreign institutional investors (FIIs) bought equities worth Rs 739.43 crore on Thursday, exchange data showed.
The partially convertible currency is currently trading at 71.17, weaker by 14 paise from its previous close of 71.03 on Thursday. The currency touched a high and low of 71.1750 and 71.0400 respectively. The reference rate for the dollar stood at 71.06 and for Euro stood at 79.13 on December 18, 2019. While the reference rate for the Yen stood at 64.93, the reference rate for the Great Britain Pound (GBP) stood at 93.12.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: