Indian rupee weakened marginally against the US dollar on Thursday amid strengthening of the American currency against other currencies overseas. Rupee fell further by tracking losses in other Asian currencies amid fears about the coronavirus outbreak in China. The death toll from the virus has risen to 17 in China, with more than 570 cases confirmed. Moreover, foreign fund outflows also weighed on the local currency. Foreign institutional investors (FIIs) sold equities worth Rs 176.43 crore on Wednesday, exchange data showed. However, firm domestic equity market and eased crude oil prices supported the rupee and restricted the fall.
The partially convertible currency is currently trading at 71.21, weaker by 2 paise from its previous close of 71.19 on Wednesday. The currency touched a high and low of 71.2250 and 71.1675 respectively. The reference rate for the dollar stood at 71.18 and for Euro stood at 78.99 on January 21, 2020. While the reference rate for the Yen stood at 64.74, the reference rate for the Great Britain Pound (GBP) stood at 92.62.
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