Indian rupee weakened against US dollar on Thursday as American currency strengthened overseas after the US Fed meeting minutes signaled tempered optimism about growth of US economy in the second half of 2020. Further, weak domestic equities with concerns over corona-virus pandemic weighed on investor sentiment. The number of cases around the world linked to corona virus has crossed 2.24 crore, while the number of infections in India topped at 28-lakh mark. Though, Foreign Institutional Investors (FIIs) bought shares worth Rs 459.01 crore on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 75.03, weaker by 21 paise from its previous close of 74.82 on Wednesday. The currency touched a high and low of 75.0500 and 74.9375 respectively. The reference rate for the dollar stood at 74.81 and for Euro stood at 88.99 on August 18, 2020. While the reference rate for the Yen stood at 70.92, the reference rate for the Great Britain Pound (GBP) stood at 98.43.
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