Continuing previous session drubbing, domestic currency concluded substantially weaker against dollar on account of continued dollar demand from importers and banks. Sentiments remained fragile amid concerns that rising Covid-19 cases and subsequent lockdowns in some states may hurt economic recovery and cause foreign outflows. Traders seemed to have overlooked Commerce and Industry Ministry’s latest data showing that foreign direct investment (FDI) equity inflows into the country grew by 28 percent to $54.18 billion during April-January 2020-21. FDI inflows stood at $42.34 billion during April-January 2019-20. On the global front; pound slipped on Tuesday as traders continued to bet on a speedy re-opening of the British economy.
Finally, the rupee ended 73.42, weaker by 12 paise from its previous close of 73.30 on Monday. The currency touched a high and low of 73.42 and 73.20 respectively. The reference rate for the dollar stood at 73.04, and for Euro stood 85.84 on March 30, 2021. While the reference rate for the 100 Yen stood at 66.34, the reference rate for the Great Britain Pound (GBP) stood at 100.55.
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