HOME > MARKETS > DEBT MARKET
  DEBT MARKET
MONEY MARKETS
Rupee weakens against US dollar on Friday
Jul-10-2020

Indian rupee weakened against the US dollar on Friday, tracking weakness in the domestic as well as global markets amid surging corona virus cases. Health ministry data showed India saw a record single-day surge of 26,506 corona virus cases on Friday, which pushed the country's Covid-19 tally to 793,802, while the death toll due to the disease climbed to 21,604 with 475 new fatalities. The number of cases around the world linked to covid-19 has crossed 1.22 crore and the death toll has topped 5.54 lakh. Rupee fell further by strengthening American currency against its key rivals on the back of safe-haven buying as the number of corona virus cases in the United States rose sharply in the last few days. Meanwhile, investors will be focusing on the industrial production number and weaker than expected economic data that could keep the domestic currency under pressure. Though, Foreign Institutional Investors (FIIs) bought equities worth Rs 212.77 crore on Thursday, exchange data showed.

The partially convertible currency is currently trading at 75.27, weaker by 28 paise from its previous close of 74.99 on Thursday. The currency touched a high and low of 75.2950 and 75.1400 respectively. The reference rate for the dollar stood at 75.02 and for Euro stood at 84.53 on July 08, 2020. While the reference rate for the Yen stood at 69.75, the reference rate for the Great Britain Pound (GBP) stood at 94.12.

  RELATED NEWS >>