Rupee weakens against US dollar on Wednesday
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Indian rupee weakened against US dollar on Wednesday, tracking weakness in Asian currencies. However, firm domestic equities following a pullback in US treasury yields and fresh foreign fund inflows limited rupee’s fall. Foreign Institutional Investors (FIIs) bought shares worth Rs 2,801.87 crore, while Domestic Institutional Investors (DIIs) also bought a net of Rs 1,250.22 crore on Tuesday, exchange data showed.
The partially convertible currency is currently trading at 72.98, weaker by 5 paise from its previous close of 72.93 on Tuesday. The currency touched a high and low of 72.9900 and 72.8850 respectively. The reference rate for the dollar stood at 73.00, and for Euro stood 86.91 on March 08, 2021. While the reference rate for the Yen stood at 67.33, the reference rate for the Great Britain Pound (GBP) stood at 100.92.
