Indian Rupee Falls To 10-day Low Against U.S. Dollar
16 Abril 2020 - 1:18AM
RTTF2
The Indian rupee declined against the U.S. dollar in the evening
session on Thursday, as rising coronavirus cases in the country and
the economic impact of an extended lockdown weighed on the
currency.
A broad strength in the U.S. dollar also pushed down the
currency.
Investors fear that the Indian economy is heading for its first
full-year contraction in more than four decades after the
government extended the nationwide lockdown to contain the
coronavirus.
The spread of novel coronavirus in India has quickened in the
past few days, affecting over 12,000 people.
The rupee fell to a 10-day low of 76.46 against the greenback
from Wednesday's closing value of 76.04. Immediate support for the
rupee is seen around the 77.00 region.
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