Indian rupee weakened against the US dollar on Tuesday amid buying in American currency by banks and importers. Moreover, concerns over rising corona virus cases in the country also weighed on the local currency. In India, the death toll due to COVID-19 rose to 934 and the number of cases climbed to 29,435 in the country, according to the Union Health Ministry. Foreign Institutional Investors (FIIs) sold equity shares worth Rs 916.42 crore on Monday, exchange data showed. Meanwhile, global stock markets seem to be stabilising as nations around the globe have either eased or planning to ease some lockdown rules, allowing resumption of key economic activity.
The partially convertible currency is currently trading at 76.43, weaker by 18 paise from its previous close of 76.25 on Monday. The currency touched a high and low of 76.44 and 76.33 respectively. The reference rate for the dollar stood at 76.41 and for Euro stood at 82.21 on April 24, 2020. While the reference rate for the Yen stood at 71.00, the reference rate for the Great Britain Pound (GBP) stood at 94.22.
