Indian rupee weakened against the US dollar on Thursday tracking strong American currency, despite optimism surrounding a corona virus vaccine from US biotechnology firm Moderna. Further, foreign fund outflows along with concerns over rising corona virus cases also dragged the rupee down. Foreign Institutional Investors (FIIs) sold shares worth Rs 221.70 crore on Wednesday, exchange data showed. Health ministry data showed the death toll in India due the corona virus rose to 24,915 and the number of infections rose to 968,876, while the number of cases around the world has crossed 1.35 crore with the death toll topped at 5.83 lakh.
The partially convertible currency is currently trading at 75.26, weaker by 11 paise from its previous close of 75.15 on Wednesday. The currency touched a high and low of 75.2900 and 75.2300 respectively. The reference rate for the dollar stood at 75.39 and for Euro stood at 85.53 on July 14, 2020. While the reference rate for the Yen stood at 70.25, the reference rate for the Great Britain Pound (GBP) stood at 94.54.
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