Indian rupee weakened against the US dollar on Monday as American currency overseas strengthened against its peers following worries about surging corona virus cases and the looming US presidential election. Data showed India's corona virus caseload rose to 7,550,273 and death toll touched 114,610. While, the number of cases globally has topped 3.98 crore and death toll has crossed 11.12 lakh mark. Foreign Institutional Investors (FIIs) sold shares worth Rs 479.59 crore on a net basis on Friday, exchange data showed. However, strong domestic equities capped rupee’s fall to some extent.
The partially convertible currency is currently trading at 73.42, weaker by 7 paise from its previous close of 73.35 on Friday. The currency touched a high and low of 73.4275 and 73.3500 respectively. The reference rate for the dollar stood at 73.38 and for Euro stood 85.84 on October 16, 2020. While the reference rate for the Yen stood at 69.7, the reference rate for the Great Britain Pound (GBP) stood at 94.56.
