Comments
The rupee on Tuesday surged by 49 paise to close at 75.64 against the US dollar, following a rally in stock markets.
At the interbank foreign exchange, the rupee opened at 75.92 and gained further ground to touch the day’s high of 75.60. The Indian unit finally settled at 75.64, registering a rise of 49 paise over its previous close.
The Reserve Bank of India (RBI) has reduced the timing of market hours for call money market, government securities market, currency market from April 7 to April 17 (from 10 am to 2 pm) following the unprecedented situation that has emerged due to the spread of coronavirus.
The forex market was closed on Monday on account of Mahavir Jayanti.
Traders said investor sentiments remain fragile amid concerns over the impact of coronavirus outbreak on the domestic as well as global economy.
Meanwhile, domestic stocks rallied on Tuesday with benchmark index Sensex going past the key 30,000-level. The 30-share index surged over 2,476 points, the biggest single-day gains in absolute terms, amid a broad-based rally in global equities.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.