Indian rupee weakened against the US dollar on Tuesday, tracking weak domestic equities after US crude futures fell in to negative territory, while market participants are also concerned that the sharp rise in corona virus cases that could weigh on the economy. Foreign institutional investors (FIIs) sold shares worth Rs 265.89 crore on Monday, exchange data showed. Though, hopes of stimulus package from the government supported the local currency and capped its losses.
The partially convertible currency is currently trading at 76.74, weaker by 21 paise from its previous close of 76.53 on Monday. The currency touched a high and low of 76.8375 and 76.7400 respectively. The reference rate for the dollar stood at 76.54 and for Euro stood at 83.05 on April 17, 2020. While the reference rate for the Yen stood at 71.04, the reference rate for the Great Britain Pound (GBP) stood at 95.46.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: