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Rupee Plummets To Record Low Of 76.90
The Indian rupee has been hitting new lows amid the pandemic and in April 22, 2020 trade opened lower at record low of 76.89 as dollar index has been strengthening. On Tuesday, rupee closed near record lows at 76.85 per US dollar.
Weaker equities due to sell off seen in the oil markets are also adding to the woes of the Indian currency.
In the bond market, the yield on 10-year benchmark bond opened at 6.19% versus close at 6.20% in the last session.
Oil markets have seen recovery after dropping to record lows and turning negative for the first time ever. US oil futures prices soared over 20% while Brent remained steady.
Meanwhile, tracking Asian market, Indian markets are set for a weak opening.
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