Indian rupee weakened against the US dollar on Monday amid tracking subdued domestic equities and other Asian currencies as the spread of corona virus outside China spooked global markets. The corona virus, that has killed 2,442 people in China, has spread to 28 other countries and territories, with the IMF warning that the deadly corona virus epidemic could put an already fragile global economic recovery at risk. Further, strengthening of the American currency too weighed on the domestic currency. However, easing crude oil prices supported the local unit and restricted its fall to some extent. Foreign institutional investors (FIIs) bought shares worth Rs 1,495.25 crore on Thursday, exchange data showed. Financial markets remained closed on Friday on account of 'Mahashivratri'.
The partially convertible currency is currently trading at 71.82, weaker by 18 paise from its previous close of 71.64 on Thursday. The currency touched a high and low of 71.9400 and 71.7650 respectively. The reference rate for the dollar stood at 71.58 and for Euro stood at 77.25 on February 20, 2020. While the reference rate for the Yen stood at 64.21, the reference rate for the Great Britain Pound (GBP) stood at 92.39.
