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Rupee slumps to below 75 per US dollar for first time in history

  •   Thu, Mar 19 2020 01:24:41 PM

Mumbai, Mar 19 (IANS): The Indian rupee touched a record low against the dollar on Thursday, trading at over Rs 75 per dollar against its previous close of Rs 74.26 a dollar.

Around 12.45 pm, it was trading at Rs 75.14, or 1.24 per cent weaker than its previous close.

The recent depreciation in the Indian currency has been on the back of persistent pressure of coronavirus fears on global markets along with a free fall in oil prices. The dollar also strengthened against other Asian currencies.

Stock markets also plunged on Thursday as Sensex fell below the 27,000-mark and Nifty50 breached the 8,000 mark for the first time in over three years during the initial trade.

In a bid to increase liquidity and enhance confidence in the market amid the coronavirus crisis, the Reserve Bank of India (RBI) on Wednesday announced it would purchase government securities worth Rs 10,000 crore through open market operations.

 

 
  

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Comment on this article

  • moshu, mangaluru

    Thu, Mar 19 2020

    A friend in need is a friend indeed. Looks Modi fullfilling one of his promises committed with his dearest friend during his last meet.

    DisAgree [1] Agree [10] Reply Report Abuse

  • RAVINDRA, KARKALA

    Thu, Mar 19 2020

    IT IS GOOD FOR DEVELOPING ECONOMY IN MANY WAYS. EXPORTERS, NRI WILL BENEFIT AND OUR GOOD WILL BECOME COMPETITIVE. STILL, INDIAN CURRENCY IS STRONG AMONG DEVELOPING COUNTRIES. THERE IS 50% DEPRECIATION IN OTHER DEVELOPING COUNTRIES . PAK RUPEE COLLAPSED TO Rs.159 A DOLLAR CONGRESS RULED COUNTRY WHEN RUPEE WENT FROM 1 TO 70 PER DOLLAR. ONLY AFTER MODI CAME TO POWER, IT IS STABILIZED AND THERE IS BENIGN INFLATION NOW A DAYS.

    DisAgree [48] Agree [8] Reply Report Abuse

  • Roshan, Mangaluru

    Thu, Mar 19 2020

    Why USD1=INR75, Modi bhakths should seek to make it Rs1,000 against USD1.

    What a days have where india have to get compared with pak and bangladesh.

    DisAgree [5] Agree [41] Reply Report Abuse

  • Jazz, Mangalore

    Thu, Mar 19 2020

    Instead of comparing India with developed countries , we compare india to Pakistan and Bangladesh, how this govt. has managed to fool Ind8ans. Even Bangladesh's GDP is growing faster than India. Even on hunger index we are the bottom which really shows us where we stand. Shameful bhakts will still defend the govt. only because they are mlm of the same religion. What logic is this? When your teachers,doctors, drivers, shop keepers can be of any religion, why overlook the government's follies coz of hindutva. The country is being ruined, there might not be a come back

    DisAgree [2] Agree [23] Reply Report Abuse

  • Jazz, Mangalore

    Thu, Mar 19 2020

    Hope you know something called inflation. Hope you're well versed with currency buying power and most importantly to use logic while rationalizing. And most importantly using caps only makes you a keyboard warrior, not in the real world.

    DisAgree Agree [15] Reply Report Abuse

  • Stephen DMello, moodbidri

    Thu, Mar 19 2020

    These many days Andh Bhakths were blaming Nehru/Congress, now on, they will blame Corona virus!

    DisAgree [7] Agree [40] Reply Report Abuse

  • Roshan, Mangaluru

    Thu, Mar 19 2020

    Cornona impact is yet to hit India. We all should hope and pray that it is contained and there is no much impact on public life.

    Modi led BJP has made a mess of indian economy and social harmony already. Most of institutions that once able to help Govt.'s to tide over uncertain situations like this, have already been systematically destroyed. So, one should not expect much from Modi Govt., except for some advises on Gobar, Go mutra or go corona,, corona go, go corona, corona go...rock music, which is what they been saying all along these days right?

    DisAgree [8] Agree [34] Reply Report Abuse

  • D M, Mangalore

    Thu, Mar 19 2020

    Ha ha ha ha

    DisAgree Agree [5] Reply Report Abuse

  • Ramesh, Udupi

    Thu, Mar 19 2020

    He should have realized now why rupees were falling... he made everyone fool.

    DisAgree [4] Agree [29] Reply Report Abuse

  • AM, Mangalore

    Thu, Mar 19 2020

    Chief Economic advisers of the Govt., Nalin Kumar, Sambit Patra, Baba Ramdev are very happy Indian rupees flying high. PM Modi does not know ABCD of the economics. If World Economy is sinking then why USD is getting stronger? In India whatever Modi says they agree without question. One day will come for Indian currency there will not any value and need to carry in bags to buy onion and potato

    DisAgree [5] Agree [31] Reply Report Abuse

  • Ramesh, Udupi

    Thu, Mar 19 2020

    In the future don't vote on the basis of religion, chose your leader who is atleast 10th pass.

    DisAgree [4] Agree [40] Reply Report Abuse

  • Dylan, Mangalore

    Thu, Mar 19 2020

    Modi /Shah's great achievement taking the country to all time high.

    DisAgree [6] Agree [37] Reply Report Abuse

  • Prakash, Mangalore

    Thu, Mar 19 2020

    Supreme Court On Madya Pradesh statement is "Weeks = Gold Mines For Horse Trading":

    Madhya Pradesh MPs are on Sale. Government is busy in Horse Trading.

    DisAgree [2] Agree [34] Reply Report Abuse

  • Roshan, Mangaluru

    Thu, Mar 19 2020

    Courts wants the Horse Trading done Quickly - that's it.

    If SC wants to put a stop to such, it can easily read out a verdict. Asking the elected representatives after to stay away from public office for 10 years. Period.

    Neither the horse trading nor courts will be bothered, nor governors have to keep themselves awake in mid-night, nor they have to get worried about their fax machines.

    DisAgree [1] Agree [17] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Thu, Mar 19 2020

    Platinum Jubilee ...

    DisAgree [3] Agree [33] Reply Report Abuse

  • Rolf, Dubai

    Thu, Mar 19 2020

    Bangal ka paisa nahye girtha,
    Pakistan ka Paisa nahye gira. hamara padosi Sri Lanka or Nepal ka Paisa masboth haya. Bhai or Beheno hamara desh ka paisa ku Girairahaya.
    Muja javab chaiea.

    DisAgree [3] Agree [40] Reply Report Abuse

  • Save my India, India.

    Thu, Mar 19 2020

    All credit must be given to PM ((Pradhan Mantri)) Shreeman Damordas Narendra Modi (ji)!!!!

    DisAgree [6] Agree [43] Reply Report Abuse

  • David Pais, Mangalore

    Thu, Mar 19 2020

    surely da chaiwala is very jealous competing da value of rupee 2 cross Dr. manmohan singhji's age.

    DisAgree [10] Agree [44] Reply Report Abuse

  • Jazz, Mangalore

    Thu, Mar 19 2020

    Almost certain before his dictatorship is over , rupee will hit 100 against USD. He will address the nation again.....Sab changa si.....

    DisAgree [8] Agree [58] Reply Report Abuse

  • Sunil K, Mangalore

    Thu, Mar 19 2020

    Rupee has fallen below 75 and government is pumping money into the stock market to pull up the indices.

    DisAgree [3] Agree [48] Reply Report Abuse

  • Sahil, Mangaluru

    Thu, Mar 19 2020

    Indication of barter system ahead...

    DisAgree [4] Agree [38] Reply Report Abuse

  • Ashok, Mangalore

    Thu, Mar 19 2020

    Rupaiya ICU mein hai- quote by Gujarat CM Narendra Modi in early 2014.
    Har bar Rupaiya ka moolya antararaashtreey baajaar main girthi hai, Desh ki ijjath githi hai - quote by Leader of opposition in Rajya Sabha Late Smt. Sushma Swaraj in late 2013.

    Where is the rupee now and where is the that so called respect.

    DisAgree [2] Agree [59] Reply Report Abuse

  • Jazz, Mangalore

    Thu, Mar 19 2020

    As per our Mahan pradhan manrtri during old govt... bhaioon aaj rupya haspathaal main haiiin. Our sarkar so rahi hai... how the past comes back to bite. More govt ratnas like LIC, ONGC, BSNL will be sold now. Foreign investors are withdrawing
    Investments from India seeing the mess happening here. Govt. managed to distract everyone with CAA and riots. Openly mocking the helpless public . Even the bhakts know what's happening, but can't say anything

    DisAgree [3] Agree [47] Reply Report Abuse

  • SJM, Mangalore

    Thu, Mar 19 2020

    Buying MLA's in USD - Keep up

    DisAgree [4] Agree [51] Reply Report Abuse

  • JNB, Bejai

    Thu, Mar 19 2020

    Now Sambit Patra will say because of crude oil is becoming cheaper so Rs is coming down not much difference.
    e.g.like earlier 1 minute mobile call was Rs.18 to 20 and 1 Samosa was Rs 1 to 2/- now Samosa became Rs.20 and calles became Rs 1/- both are same ;)

    DisAgree [4] Agree [49] Reply Report Abuse

  • PRAVEEN, MLORE

    Thu, Mar 19 2020

    MASTER STROKE!!!!!

    still Finance Minster saying there is no impact on economy by Corona..So this Rupee fall by BJP ruling effect

    DisAgree [2] Agree [62] Reply Report Abuse

  • Evans C. Sumitra, Udupi/ New York, USA.

    Thu, Mar 19 2020

    This is a bad sign for the economy growth of the country. This 75 per US dollar is a big loss for businessmen who are dealing in dollars as they have to spend more Indian rupees. Even students who are studying abroad will find it hard to make both ends meet.

    DisAgree [1] Agree [51] Reply Report Abuse

  • Hussain, Abu Dhabi

    Thu, Mar 19 2020

    Govt busy in buying MLAs ...Please do not disturb them

    DisAgree [2] Agree [85] Reply Report Abuse

  • Lionel Dsouza, Mangalore

    Thu, Mar 19 2020

    FIRST TIME 75 IN 72 YEARS...….GO KARUNA.....KARUNA GO.....

    DisAgree [3] Agree [70] Reply Report Abuse

  • Aloysius, Kinnigoli

    Thu, Mar 19 2020

    What is Nalin Kumar and Sambit Patra has to say now?
    Where is their promise 1 Rs. will be 15 dollars!>

    DisAgree [2] Agree [88] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Thu, Mar 19 2020

    Clear Indication that Indians are abandoning the Rupee & buying Gold & Dollars ...

    DisAgree [6] Agree [70] Reply Report Abuse

  • ramesh, kodagu

    Thu, Mar 19 2020

    NRI GUJRATI DOKLA MAFIA MUST B HAPPY.
    this time much crowd for HOWDY MODI.

    DisAgree [4] Agree [70] Reply Report Abuse

  • Prakash, Mangalore

    Thu, Mar 19 2020

    Thank you Modiji for this gift, looks like your continues focus is destabilizing non BJP state govt's and ignoring to concentrate on strengthening the economy, keeping inefficient ministers, trying to get clean chit by black mailing the Judges & SC & offering them Rajya Sabha seats.

    Hope you will find some reason to blame Nehru for this too.

    DisAgree [6] Agree [86] Reply Report Abuse

  • Aloysius, Kinnigoli

    Thu, Mar 19 2020

    One MLA horse trading costs 45 crores and 1 MLA for voting for Rajya Sabha MP 65 crores for horse trading.
    Immagin how much money BJP is wasting? from where?

    DisAgree [5] Agree [77] Reply Report Abuse

  • Deshbhakht, Mangalore

    Thu, Mar 19 2020

    Roadmap to 5 Trillion economy !

    Modi/Shah/Sitaram hai to mumkain hai !

    DisAgree [5] Agree [84] Reply Report Abuse


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