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.
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: