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Rupee weakens on sustained foreign fund outflows
Jan-17-2019

Indian rupee weakened against the US dollar on Thursday amid sustained foreign fund outflows. Data showed Foreign funds pulled out Rs 90.10 crore from the capital markets on a net basis, while domestic institutional investors purchased shares worth Rs 304.27 crore on Wednesday. However, easing crude oil prices and selling of the American currency by exporters capped rupee’s losses. Besides, positive trading in domestic equities too supported the domestic unit and restricted its losses. On the global front, the dollar took a breather on Thursday following its recent strong gains against key rivals; while sterling steadied after British Prime Minister Theresa May’s government won a no-confidence vote in parliament.

The partially convertible currency is currently trading at 71.31, weaker by 7 paise from its previous close of 71.24 on Wednesday. The currency touched a high and low of 71.3700 and 71.1300 respectively. The reference rate for the dollar stood at 71.18 and for Euro stood at 81.17 on January 16, 2019. While the reference rate for the Yen stood at 65.62, the reference rate for the Great Britain Pound (GBP) stood at 91.46.

Date1US$1GBP
January 16, 201971.184791.4619
January 15, 201971.029891.6242

(Reference Rate)

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