Indian rupee weakened against US dollar on Monday, tracking fall in domestic equities as market reacted to Finance Minister Nirmala Sitharaman's announcement of a slew of policy measures to revive the economy from the corona virus crisis. Further, concerns over impact of extension of the nationwide lockdown also hurt the investor sentiment. Moreover, rising corona virus cases in the country and sustained foreign fund outflows added pressure on the local unit. Foreign Institutional Investors (FIIs) sold equity shares worth Rs 2,388.04 crore on Friday, exchange data showed. On the global front, the US dollar held its ground as concern about global tensions with China overshadowed improving sentiment from easing corona virus lockdowns.
The partially convertible currency is currently trading at 75.92, weaker by 34 paise from its previous close of 75.58 on Friday. The currency touched a high and low of 75.9200 and 75.8350 respectively. The reference rate for the dollar stood at 75.56 and for Euro stood at 81.65 on May 15, 2020. While the reference rate for the Yen stood at 70.48, the reference rate for the Great Britain Pound (GBP) stood at 92.26.
