Indian rupee weakened against the US dollar on Tuesday on brisk demand for American currency by banks and importers amidst rising concerns over surging corona virus cases in the country. Data showed the number of cases around the world linked to corona virus cases has crossed 1.82 crore and in India, the number of infections touched 1,855,745. Though, firm domestic equities and foreign fund inflows supported the rupee and capped its fall. Foreign institutional investors (FIIs) bought shares worth Rs 7,818.49 crore on Monday, exchange data showed.
The partially convertible currency is currently trading at 75.09, weaker by 8 paise from its previous close of 75.01 on Monday. The currency touched a high and low of 75.1750 and 74.8500 respectively. The reference rate for the dollar stood at 74.77 and for Euro stood at 88.87 on July 31, 2020. While the reference rate for the Yen stood at 71.64, the reference rate for the Great Britain Pound (GBP) stood at 98.17.
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