Indian rupee weakened against the US dollar on Monday amid firm American currency in the overseas market as many countries tightened Covid-19 lock-downs. Moreover, weak domestic equities also put some pressure on rupee sentiment. Though, sustained foreign fund inflows, lower crude prices, and weekend deal among US congressional leaders for a $900 billion corona virus aid package have restricted the rupee fall. Foreign institutional investors (FIIs) bought shares worth Rs 2,720.95 crore on a net basis on Friday, exchange data showed.
The partially convertible currency is currently trading at 73.66, weaker by 10 paise from its previous close of 73.56 on Friday. The currency touched a high and low of 73.7475 and 73.6475 respectively. The reference rate for the dollar stood at 73.51, and for Euro stood 90.03 on December 18, 2020. While the reference rate for the Yen stood at 71.1, the reference rate for the Great Britain Pound (GBP) stood at 99.49.
