Indian rupee weakened against the US dollar on Tuesday tracking firm American currency amid concerns about a new strain of Sars-CoV-2 virus . Officials said the new UK variant is up to 70% more transmissible than the original, triggered concerns about a wider spread which has prompted several European countries to take measures to prevent people arriving from Britain, including bans on flights and trains. Further, weakness in domestic equities amid foreign fund outflow also kept the domestic currency under pressure. Foreign institutional investors (FIIs) sold shares worth Rs 323.55 crore on a net basis on Monday, exchange data showed.
The partially convertible currency is currently trading at 73.88, weaker by 9 paise from its previous close of 73.79 on Monday. The currency touched a high and low of 73.9550 and 73.8775 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 71.10, the reference rate for the Great Britain Pound (GBP) stood at 99.49.
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