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Rupee weakens against US dollar on Tuesday
Oct-23-2018

Indian rupee weakened against the US dollar on Tuesday due to the strengthening of the American currency. Rupee sentiment fell further on increased demand for the US currency from importers amid sustained foreign fund outflows. Furthermore, lower trading of domestic equity market, also weighed on the rupee. On the global front, the Japanese yen, a safe haven in uncertain times, firmed against the dollar on Tuesday, as the euro and sterling suffered due to doubts over Italy’s budget spending and over British Prime Minister Theresa May’s future with Brexit talks stalled.

The partially convertible currency is currently trading at 73.75, weaker by 19 paise from its previous close of 73.56 on Monday. The currency touched a high and low of 73.8250 and 73.7300 respectively. The reference rate for the dollar stood at 73.30 and for Euro stood at 84.57 on October 22, 2018. While the reference rate for the Yen stood at 65.02, the reference rate for the Great Britain Pound (GBP) stood at 95.93. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
October 22, 201873.302595.9305
October 19, 201873.435495.6525

(Reference Rate)

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