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Rupee trade flat against US dollar on Friday

16 Oct 2020 Evaluate

Indian rupee was trading flat against the US dollar on Friday due to concerns over surging corona virus pandemic cases more than 38.8 million globally. While, strengthening American currency due to fading hopes of another stimulus package before the US presidential elections added some downward pressure on domestic currency. Foreign Institutional Investors (FIIs) offloaded shares worth Rs 604.07 crore, while Domestic Institutional Investors (DIIs) were also net sellers to the tune of Rs 808.29 crore in the Indian equity market on Thursday, exchange data showed.

The partially convertible currency is currently trading flat to its previous close of 73.36 on Thursday. The currency touched a high and low of 73.4275 and 73.3175 respectively. The reference rate for the dollar stood at 73.45 and for Euro stood 86.27 on October 14, 2020. While the reference rate for the Yen stood at 69.65, the reference rate for the Great Britain Pound (GBP) stood at 94.81.

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