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Rupee weakens against US dollar on heavy foreign fund outflows
Feb-18-2019

Indian rupee weakened against the US dollar on Monday amid heavy foreign fund outflows, subdued domestic equity markets, and after India's trade deficit widened in January compared to the previous month. Foreign portfolio investors (FPIs) sold shares worth a net Rs 966.43 crore, while domestic institutional investors (DIIs) bought equities to the tune of Rs 853.25 crore on Friday, provisional data showed. On the global front, the dollar fell versus a basket of its peers on Monday as rising expectations of a US-Sino trade deal led investors to shift away from the safety of the greenback into riskier assets.

The partially convertible currency is currently trading at 71.46, weaker by 23 paise from its previous close of 71.23 on Friday. The currency touched a high and low of 71.4900 and 71.3200 respectively. The reference rate for the dollar stood at 71.25 and for Euro stood at 80.41 on February 15, 2019. While the reference rate for the Yen stood at 64.55, the reference rate for the Great Britain Pound (GBP) stood at 91.22.

Date1US$1GBP
February 15, 201971.251591.2261
February 14, 201970.940891.2791

(Reference Rate)

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