Indian Rupee Declines To 4-day Low Against U.S. Dollar

Date : 04/21/2020 @ 5:50AM
Source : RTTF2
Stock : United States Dollar vs Indian Rupee (USDINR)
Quote : 74.975  -0.165 (-0.22%) @ 9:50AM
US Dollar vs INR share price Chart

Indian Rupee Declines To 4-day Low Against U.S. Dollar

US Dollar vs INR (FX:USDINR)
Forex Chart

From Apr 2020 to Jul 2020

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The Indian rupee declined against the U.S. dollar in afternoon deals on Tuesday, as a historic crash in crude oil prices deepened worries about global economic slowdown.

On Monday, U.S. crude prices nosedived below the $0 a barrel mark for the first time in history, led by a decline in global demand on concerns about the economic impact of the coronavirus pandemic.

The global death toll due to Covid-19 crossed 1,70,000-mark, while the total cases of the infection jumped above 24,00,000.

India has currently 17,656 confirmed cases including 14,255 active cases and 2,841 cured/discharged cases and 559 deaths.

The rupee declined to a 4-day low of 76.35 against the greenback, from Monday's closing value of 76.03. Immediate downside target for the rupee is possibly seen around the 77 level.

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