Indian rupee strengthened against the US dollar on Monday as weak American currency overseas boosted investor sentiment and shrugged off foreign fund outflows and concerns over surging corona virus cases. Meanwhile, India-China border issue and Sino-US trade conflict kept participants on edge. Foreign Institutional Investors (FIIs) sold equity shares worth Rs 753.18 crore on Friday, exchange data showed. Health ministry data showed the death toll in India due to corona virus rose to 16,475 and the number of infections rose to 548,318, while the number of cases around the world has crossed 1.01 crore with death toll topped at 5.01 lakh.
The partially convertible currency is currently trading at 75.56, stronger by 9 paise from its previous close of 75.65 on Friday. The currency touched a high and low of 75.6450 and 75.5250 respectively. The reference rate for the dollar stood at 75.47 and for Euro stood at 84.62 on June 26, 2020. While the reference rate for the Yen stood at 70.47, the reference rate for the Great Britain Pound (GBP) stood at 93.71.
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