Rupee slips past 74/$ on weak equities, coronavirus-led slowdown fears

PTI Mumbai | Updated on March 09, 2020

The rupee on Monday slipped past the 74-level against the US dollar to settle at 74.14 (provisional), down 27 paise tracking heavy selling in domestic equity market amid rising concerns over coronavirus-led economic slowdown.

Forex traders said the rupee depreciated versus major trading currencies as a collapse in oil prices added to risk off sentiment caused by relentless spread of coronavirus across the globe.

At the interbank foreign exchange market, the local currency opened at 73.99. During the day, it saw a high of 73.85 and a low of 74.17.

The Indian currency finally settled at 74.14, lower by 27 paise against its previous close. The domestic unit had settled at 73.87 against the American currency on Friday.

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Published on March 09, 2020
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