Indian rupee weakened against the US dollar on Thursday tracking strengthening of American currency overseas even after Payroll processor ADP reported lower than expected US private sector job growth for August. Further, volatility in domestic equities too put pressure on investor sentiment. However, sustained foreign fund inflows supported the rupee and restricted its fall. Foreign Institutional Investors (FIIs) bought shares worth Rs 990.57 crore on Wednesday, according to provisional exchange data.
The partially convertible currency is currently trading at 73.26, weaker by 23 paise from its previous close of 73.03 on Wednesday. The currency touched a high and low of 73.3950 and 73.2300 respectively. The reference rate for the dollar stood at 72.82 and for Euro stood 87.30 on September 01, 2020. While the reference rate for the Yen stood at 68.92, the reference rate for the Great Britain Pound (GBP) stood at 97.68.
