Indian rupee weakens against the US dollar on Monday, amid Union Budget 2021-22 presentation in Parliament. The investors are closely watching over the budget presentation that could have a bearing on equity flows, and in turn on the rupee in the near term. The FIIs were net sellers in the stock market as they offloaded shares worth Rs 5,930.66 crore on a net basis on Friday. On global front, the greenback is stronger against a bucket of currencies, with the perceived safe haven appeal of the dollar amid surging covid cases and slow vaccine rollout.
The partially convertible currency is currently trading at 72.98, weaker by 2 paise from its previous close of 72.96 on Friday. The currency touched a high and low of 73.0600 and 72.8400 respectively. The reference rate for the dollar stood at 73.06, and for Euro stood 88.37 on January 29, 2021. While the reference rate for the Yen stood at 70.07, the reference rate for the Great Britain Pound (GBP) stood at 99.89.
