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Rupee hits record low of 74.50/$ amid corona crisis

  •   Fri, Mar 13 2020 11:41:06 AM

Mumbai, Mar 13 (IANS): The Indian rupee depreciated to a record low of 74.50 in its initial trade on Friday following the persistent fears of the coronavirus outbreak and bear run in the global financial markets.

Its previous low was 74.48 which it had hit in October, 2018.

It had opened at 74.39, weaker by 17 paise from its previous close of 74.22.

However, the rupee has appreciated marginally from its lows and is currently trading at 74.09 per dollar.

With an aim to curb further weakness for the rupee, the Reserve Bank of India (RBI) on Thursday announced that it will undertake a six-month ‘sell/buy swap' to provide liquidity to the foreign market.

Central banks across the world, including the US Federal Reserve have taken steps including announcement of emergency rate cuts to boost investor sentiments.

Further, fall in crude oil prices also weighed on the rupee market. Brent crude is currently at $33.03, which is 0.6 per cent lower than its previous close.
  

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Comment on this article

  • Arthur, Mangalore

    Fri, Mar 13 2020

    The Modi is worhtless.

    DisAgree [1] Agree [7] Reply Report Abuse

  • Ponkra, Pilar / Shirva

    Fri, Mar 13 2020

    In America and middle east Corona-virus effected more than India. But their currency is strong and never week against Rupee. Why Indian currency is week against other currency. Rupee is collapsing because of feku Modi and his entire team and government .

    DisAgree Agree [8] Reply Report Abuse

  • Deshbhakht, Mangalore

    Fri, Mar 13 2020

    This is the only way of collecting FC. That is, if Indians employed abroad get their salary in time.

    India ranks at top three in imports but placed in 50 plus in exports. Excellent way of a governance with a difference !

    Bkakhths should celebrate more intensively !

    DisAgree Agree [8] Reply Report Abuse

  • Sahil, Mangaluru

    Fri, Mar 13 2020

    Last 7 years scr..ed up everything. BJP during their period accumulated any reserve for such situation instead just blame 70 years. And others divert the people mind and cleared the most of the reserve for the previous period.
    It is a just beginning sunami yet to come. By that time too late wake up....

    DisAgree [5] Agree [18] Reply Report Abuse

  • Charles D'Melllo, Pangala

    Fri, Mar 13 2020

    Corona virus hit China or India....!!!!!!???????

    DisAgree [5] Agree [18] Reply Report Abuse

  • SJM, Mangalore

    Fri, Mar 13 2020

    Current Indian Govt.

    DisAgree [4] Agree [13] Reply Report Abuse


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Title: Rupee hits record low of 74.50/$ amid corona crisis



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