Indian rupee weakened against the US dollar on Friday tracking weak domestic equities. However, weakness in the American currency and sustained foreign fund inflows supported to the domestic currency even as many parts of the world are reporting rising corona virus cases. Foreign Institutional Investors (FIIs) bought shares worth Rs 1,614.66 crore on Thursday, exchange data showed. On the global front, the US dollar set to log its worst week of the year as investors welcomed the Joe Biden administration by seeking out riskier assets.
The partially convertible currency is currently trading at 73.04, weaker by 5 paise from its previous close of 72.99 on Thursday. The currency touched a high and low of 73.0650 and 72.9875 respectively. The reference rate for the dollar stood at 73.12, and for Euro stood 88.80 on January 20, 2021. While the reference rate for the Yen stood at 70.48, the reference rate for the Great Britain Pound (GBP) stood at 99.88.
