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Rupee depreciates against US dollar on Tuesday

22 Sep 2020 Evaluate

Indian rupee depreciated against the US dollar on Tuesday tracking weakness in domestic as well as global equities. Further, concerns about surging corona virus pandemic cases with fears of fresh lockdowns in some European countries weighing on investor sentiments. Moreover, Foreign institutional investors (FIIs) sold shares worth Rs 539.81 crore on Monday, exchange data showed. On the global front, The US dollar gained against its peers as corona virus fears and worries over the US Congress’ stimulus impasse drove a heavy sell-off in almost all other assets.

The partially convertible currency is currently trading at 73.50, weaker by 12 paise from its previous close of 73.38 on Monday. The currency touched a high and low of 73.5150 and 73.3850 respectively. The reference rate for the dollar stood at 73.29 and for Euro stood 86.88 on September 18, 2020. While the reference rate for the Yen stood at 69.93, the reference rate for the Great Britain Pound (GBP) stood at 95.06. 
 

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