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Best Forex (Click Here For Best Forex Techniques) robot The regional unit had actually settled at a lowest level of 76.34 against the greenback on Wednesday.
Last Updated: Apr 09, 2020, 02.56 PM IST
The local system had settled at an all-time low of 76.34 against the greenback on Wednesday.
At the interbank foreign exchange market, the regional currency opened at 76.11, but experienced heavy volatility and touched a low of 76.55 against the American currency.
The domestic unit lastly settled at 76.28 against the greenback, up 6 paise over its previous close.
Traders stated concerns over the effect of coronavirus outbreak on the domestic along with the worldwide economy continued to haunt investors.
There are more than 15.18 lakh stated cases of coronavirus worldwide. In India, the tally of confirmed coronavirus cases has crossed the 5,700- mark.
” Uncertainty and fragile market beliefs over COVID-19 will continue to keep the rupee under pressure. Additional pressure will originate from the uptick in crude and rise in the dollar index,” stated Rahul Gupta, Head of Research- Currency, Emkay Global Financial Providers.
Gupta further said, “likewise, OTC timings have been cut to 10 AM-2PM, and it is an illiquid, downhearted market at this point in time and won’t be amazed if 77.50 is breached next week.”.
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