Indian rupee weakened against the US dollar on Tuesday amid subdued domestic equities even as the government offered free Covid-19 vaccines to all adults in the country. Moreover, strength in American currency overseas also added pressure on rupee sentiments. However, declining trend in coronavirus cases in the country and lower crude prices supported the domestic unit and capped the fall. The Union Health Ministry data showed that India reported less than one lakh new coronavirus infections after a gap of 63 days, while the daily positivity rate dropped to 4.62 percent. Meanwhile, Foreign Institutional Investors (FIIs) sold shares worth Rs 186.46 crore, exchange data showed.
The partially convertible currency is currently trading at 72.83, weaker by 3 paise from its previous close of 72.80 on Monday. The currency touched a high and low of 72.8700 and 72.7625 respectively. The reference rate for the dollar stood at 72.52, and for Euro stood 88.42 on May 31, 2021. While the reference rate for the 100 Yen stood at 66.08, the reference rate for the Great Britain Pound (GBP) stood at 102.86.
