Indian rupee weakened against the US dollar on Tuesday amid lack of cues from the global market ahead of Christmas holiday. Further, sustained rise in crude oil prices too weighed on the domestic currency. Though, sustained foreign fund inflows supported the rupee and restricted the fall. Foreign institutional investors (FIIs) bought shares worth Rs 1,463.28 crore on Monday, exchange data showed. On the global front, US dollar remained unchanged against its major crosses after China’s finance ministry said it would lower tariffs on products ranging from frozen pork and avocados to certain semiconductors next year as Beijing looks to boost imports amid slowing economy and a trade war with the US.
The partially convertible currency is currently trading at 71.22, weaker by 4 paise from its previous close of 71.18 on Monday. The currency touched a high and low of 71.2500 and 71.1900 respectively. The reference rate for the dollar stood at 71.15 and for Euro stood at 79.10 on December 20, 2019. While the reference rate for the Yen stood at 65.09, the reference rate for the Great Britain Pound (GBP) stood at 92.61.
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: