Indian rupee weakened against US dollar on Wednesday on the back of strengthening American currency at overseas market. Further, surge in international oil prices too weighed on rupee sentiments. However, firm domestic equities amid strong foreign fund inflows capped further losses in rupee. Foreign institutional investors (FIIs) bought shares worth Rs 1,422.71 crore, exchange data showed. Meanwhile, global investors remained cautious ahead of US inflation data and the European Central Bank policy meeting, both due later this week.
The partially convertible currency is currently trading at 72.99, weaker by 10 paise from its previous close of 72.89 on Tuesday. The currency touched a high and low of 73.0200 and 72.8850 respectively. The reference rate for the dollar stood at 72.77, and for Euro stood 88.95 on June 1, 2021. While the reference rate for the 100 Yen stood at 66.48, the reference rate for the Great Britain Pound (GBP) stood at 103.49.
