Indian rupee weakened against the US dollar on Tuesday, though crude prices eased. Investors took note of report that the most valuable company in the United States, Apple Inc claimed that it will not meet its revenue projections for the quarter March as the coronavirus epidemics had slowed its production and declined its demand in China. Negative trend in the domestic equities also trimmed the Indian currency. On the global front, dollar continued to rally against its major crosses but volatility remained low as US markets were shut yesterday on account of President’s Day holiday.
The partially convertible currency is currently trading at 71.41, weaker by 12 paise from its previous close of 71.29 on Monday. The currency touched a high and low of 71.4425 and 71.3700 respectively. The reference rate for the dollar stood at 71.38 and for Euro stood at 77.35 on February 14, 2020. While the reference rate for the Yen stood at 65.03, the reference rate for the Great Britain Pound (GBP) stood at 93.12.
