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Rupee Opens At Its Weakest At 74.95/US Dollar
On March 19, 2020, the Indian rupee opened at its weakest at 74.95 per US dollar, down almost 69 paise against previous close of 74.26. The weakness comes on the back of weak equities as well as gains in the dollar. Nonetheless, the sentiments on the domestic currency weakened further and it dropped to 75 mark per US dollar at around 11:45 am.
As per traders in the forex market, the rupee is unable to find support due to lingerng concerns on global as well as domestic economic growth due to coronavirus.
In the bond market, the yield on 10-year benchmark bond also rises to 6.38% as the bonds have plunged a great deal in the current financial markets rout.
Indian equities meanwhile are on their losing streak and have lost over 7% in today's trade with Nifty at 7800 points.
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