The Indian rupee weakened against the US dollar on Monday, despite firm domestic equities. Further, concerns over surging corona virus cases and foreign fund outflows too added pressure on domestic currency. Data showed India's corona virus cases crossed the 60-lakh mark with death toll crossed 95,000, while the global corona virus death toll now passed one million people. Foreign Institutional Investors sold shares worth Rs 2,080.21 crore on a net basis on Friday, exchange data showed. While, investors will be looking for cues from the first presidential debate between US President Donald Trump and Democratic candidate Joe Biden, set for Tuesday.
The partially convertible currency is currently trading at 73.62, weaker by 1 paise from its previous close of 73.61 on Friday. The currency touched a high and low of 73.6600 and 73.5350 respectively. The reference rate for the dollar stood at 73.72 and for Euro stood 86.04 on September 25, 2020. While the reference rate for the Yen stood at 70, the reference rate for the Great Britain Pound (GBP) stood at 94.05.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: