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.
