Indian rupee weakened against the US dollar on Thursday, tracking strengthening American currency overseas after US intelligence official said both Russia and Iran have obtained voter registration information on American citizens and are using it in their separate schemes to influence next month’s US presidential election. Further, weak domestic equities also adding pressure to the rupee. Meanwhile, the Finance Ministry was working on another stimulus package to support the economy. Foreign Institutional Investors (FIIs) bought shares worth Rs 2,108.48 crore, while Domestic Institutional Investors (DIIs) sold shares worth Rs 1,633.53 crore in the Indian equity market on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 73.65, weaker by 7 paise from its previous close of 73.58 on Wednesday. The currency touched a high and low of 73.7850 and 73.6050 respectively. The reference rate for the dollar stood at 73.33 and for Euro stood 86.33 on October 20, 2020. While the reference rate for the Yen stood at 69.50, the reference rate for the Great Britain Pound (GBP) stood at 94.95.
