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Published on 6/04/2021 12:28:59 PM | Source: Accord Fintech

Rupee weakens against US dollar on Tuesday

Posted in Currency News| #Rupee #US dollar #Currency News

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Indian rupee weakened against the US dollar on Tuesday, though it opened stronger at 73.22, tracking the higher domestic equities and positive Asian currencies. The domestic currency depreciated amid concerns over pace of economic recovery and foreign outflows counting on surging covid cases and re-imposed restrictions in several parts of the country. However the greenback held strong against a basket of six currencies, amid bets on the stimulus induced economic recovery and aggressive vaccinations. Stronger US treasury yields also supported the dollar.

 

The partially convertible currency is currently trading at 73.32, weaker by 2 paise from its previous close of 73.30 on Monday. The currency touched a high and low of 73.3400 and 73.2050 respectively.