Indian Rupee Drops Below 73-mark Against U.S. Dollar
March 03 2020 - 2:17AM
RTTF2
The Indian rupee lost ground against the U.S. dollar in the
evening session on Tuesday amid concerns over the economic threat
due to the coronavirus outbreak.
Meanwhile, the Reserve Bank of India said that it is closely
monitoring global as well as domestic situation regarding the
impact of deadly coronavirus and that it stands ready to take
necessary action to ensure orderly functioning of financial
markets.
The Indian rupee hit 73.54 against the greenback, its lowest
level since October 2018. At yesterday's trading close, the pair
was valued at 72.59. Next key downside target for the rupee is
likely seen around the 75.00 level.
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