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Rupee weakens against US dollar on Friday
Jun-18-2021

Indian rupee weakened against the US dollar on Friday as domestic equities extended losses tracking global markets after the US Federal Reserve surprised investors by signalling faster-than-expected rate hikes. Further, surging American currency also weighed on investor sentiments. Moreover, Foreign Institutional Investors (FIIs) offloaded shares worth Rs 879.73 crore, while Domestic Institutional Investors (DIIs) bought shares worth of Rs 45.24 crore in the Indian equity market on Thursday, exchange data showed.

The partially convertible currency is currently trading at 74.16, weaker by 8 paise from its previous close of 74.08 on Thursday. The currency touched a high and low of 74.2725 and 74.10 respectively. The reference rate for the dollar stood at 72.99, and for Euro stood 88.84 on June 10, 2021. While the reference rate for the 100 Yen stood at 66.67, the reference rate for the Great Britain Pound (GBP) stood at 103.01.

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