Indian Rupee weakened against the US dollar on Monday, with weak domestic equities as fears mounted that the global shutdown for the corona virus could last for months. The number of deaths around the world linked to the new corona virus has touched nearly 34,000. In India, the tally of confirmed corona virus cases crossed the 1,000-mark. Though, Foreign Institutional Investors (FIIs) bought shares worth Rs 355.78 crore on Friday, exchange data showed. On the global front, the dollar snapped a week of declines and the safe-haven yen rose as corona virus lockdowns tightened across the world and investors braced for a prolonged period of uncertainty.
The partially convertible currency is currently trading at 75.37, weaker by 48 paise from its previous close of 74.89 on Friday. The currency touched a high and low of 75.4225 and 75.1350 respectively. The reference rate for the dollar stood at 74.84 and for Euro stood at 82.64 on March 27, 2020. While the reference rate for the Yen stood at 68.89, the reference rate for the Great Britain Pound (GBP) stood at 91.56.
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