Indian rupee weakened against the US dollar on Tuesday, despite some selling in the American currency by banks and exporters following sustained foreign fund inflows. Foreign Institutional Investors (FIIs) bought shares worth Rs 68.24 crore in the Indian equity market on January 13, exchange data showed. Though, local currency sentiment improved on the back of positive global cues ahead of the Sino-US trade deal that will be signed in Washington this week. The trade deal to be signed this week will include pledges by China to buy $200 billion of US goods over two years in four industries.
The partially convertible currency is currently trading at 70.90, weaker by 4 paise from its previous close of 70.86 on Monday. The currency touched a high and low of 70.9200 and 70.7800 respectively. The reference rate for the dollar stood at 71.11 and for Euro stood at 79.00 on January 10, 2020. While the reference rate for the Yen stood at 64.90, the reference rate for the Great Britain Pound (GBP) stood at 93.05.
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