Indian rupee weakened against the US dollar on Thursday tracking weak domestic equities, despite persistent foreign fund inflows. Foreign institutional investors (FIIs) bought shares worth Rs 6,207.19 crore on a net basis on Wednesday, exchange data showed. Further, firm American currency too added pressure on domestic currency. While, Finance Minister Nirmala Sitharaman will address a press conference at 12.30 pm in the day, and is expected to announce a massive economic stimulus package worth Rs 3 lakh crore to boost the corona virus-hit economy.
The partially convertible currency is currently trading at 74.53, weaker by 17 paise from its previous close of 74.36 on Wednesday. The currency touched a high and low of 74.5300 and 74.3850 respectively. The reference rate for the dollar stood at 74.21, and for Euro stood 87.78 on November 10, 2020. While the reference rate for the Yen stood at 70.67, the reference rate for the Great Britain Pound (GBP) stood at 97.82.
