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Rupee weakens against US dollar on Thursday
Mar-04-2021

Indian rupee weakened against the US dollar on Thursday following weak domestic equities amid anxieties about rising global bond yields. Further, strong American currency also added pressure on domestic currency. However, improving risk appetite in the regional currencies on optimism over the economic outlook capped rupee’s fall. Meanwhile, investors are now awaiting Federal Reserve Chairman Jerome Powell's speech before a virtual Wall Street Journal Jobs Summit, for clues on the outlook of the central bank's monetary policy. Foreign Institutional Investors (FIIs) bought shares worth Rs 2,088.70 crore on Wednesday, exchange data showed.

The partially convertible currency is currently trading at 72.75, weaker by 3 paise from its previous close of 72.72 on Wednesday. The currency touched a high and low of 72.9950 and 72.7400 respectively. The reference rate for the dollar stood at 73.35, and for Euro stood 88.20 on March 02, 2021. While the reference rate for the Yen stood at 68.66, the reference rate for the Great Britain Pound (GBP) stood at 101.90.

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