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Rupee weakens against US dollar as dollar strengthens
Mar-05-2021

Indian rupee weakened against the US dollar on Friday as dollar strengthened against its rivals after US Federal Reserve Chairman Jerome Powell failed to reassure investors that the central bank would keep surging bond yields and inflation expectations in check. Further, sharp losses in global and domestic equities also weighed on investor sentiment. Meanwhile, Foreign Institutional Investors (FIIs) sold shares worth Rs 223.11 crore, while Domestic Institutional Investors (DIIs) were also net sellers to the tune of Rs 788.19 crore in the Indian equity market on Thursday, exchange data showed.

The partially convertible currency is currently trading at 72.86, weaker by 3 paise from its previous close of 72.83 on Thursday. The currency touched a high and low of 72.9950 and 72.8150 respectively. The reference rate for the dollar stood at 73.06, and for Euro stood 88.28 on March 03, 2021. While the reference rate for the Yen stood at 68.37, the reference rate for the Great Britain Pound (GBP) stood at 101.87.

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