HOME > MARKETS > DEBT MARKET
  DEBT MARKET
MONEY MARKETS
Rupee weakens against US dollar on Friday
Aug-16-2019

Indian rupee weakened against the US dollar on Friday on the back of improving crude oil prices coupled with cautious opening in domestic equities. Further, rising demand for American currency by banks and importers weighed on rupee. Forex market was shut on Thursday on account of Independence Day. On the global front, the dollar gained on Friday after a rise in US retail sales eased concerns about the world’s top economy, but traders cautioned against reading too much into one piece of data given the growing risks to the outlook.

The partially convertible currency is currently trading at 71.34, weaker by 7 paise from its previous close of 71.27 on Wednesday. The currency touched a high and low of 71.4750 and 71.2500 respectively. The reference rate for the dollar stood at 71.23 and for Euro stood at 79.75 on August 13, 2019. While the reference rate for the Yen stood at 67.66, the reference rate for the Great Britain Pound (GBP) stood at 85.89.

  RELATED NEWS >>