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The Indian rupee tanked 43 paise to settle at an all-time low of 76.87(provisionary) against the United States dollar on Thursday, amidst increasing concerns over coronavirus-led economic slowdown.
Forex (Click Here For Best Forex Techniques) traders said the weak point in the rupee was largely due to enhancing of the United States Dollar versus a basket of currencies as investors fled to safe house greenback amidst deteriorating danger appetite in the markets.
At the interbank foreign exchange, the rupee opened weak at 76.75, and throughout the day lost more ground to settle at 76.87, signing up a fall of 43 paise over its previous close.
During the session, the rupee moved between 76.68 and a low of 76.87 versus the United States dollar. On Wednesday, the rupee had settled at 76.44 against the greenback.
Besides, financier sentiments remain vulnerable amid issues over the effect of coronavirus break out on the domestic in addition to worldwide economy.
The variety of cases worldwide connected to the new coronavirus has actually crossed over 20 lakh. In India, over 12,000 coronavirus cases have been reported so far.
Brent unrefined futures, the global oil criteria, increased 1.17 percent to USD 28.18 per barrel.
Foreign institutional investors (FIIs) were net buyers in the capital markets, as they purchased shares worth Rs 1,35866 crore on Wednesday, according to provisionary information.
Domestic bourses were trading on a positive note with benchmark indices Sensex trading 334.06 points higher at 30,71387 and Nifty up by 90.25 points at 9,01555
The dollar index, which assesses the greenback’s strength versus a basket of 6 currencies, rose by 0.29 per cent to 99.75
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