Indian rupee hits record low of 74.50/$ amid corona crisis

Gallery

MORE...

Sports

India Open Competition in Shotgun begins in Jaipur, paving way for Nationals' qualification

India Open Competition in Shotgun, organised by the National Rifle Association of India (N

Hockey India names Amir Ali-led 20-man team for Junior Asia Cup

Harmanpreet Singh named FIH Player of the Year, PR Sreejesh gets best goalkeeper award

World Boxing medallist Gaurav Bidhuri to flag off 'Delhi Against Drugs' movement on Nov 17

U23 World Wrestling Championship: Chirag Chikkara wins gold as India end campaign with nine medals

FIFA president Infantino confirms at least 9 African teams for the 2026 World Cup

MORE...

Indian rupee hits record low of 74.50/$ amid corona crisis

Last Updated : 13 Mar 2020 10:34:49 AM IST

file photo

The Indian rupee depreciated to a record low of 74.50 in its initial trade on Friday following the persistent fears of the coronavirus outbreak and bear run in the global financial markets.

Its previous low was 74.48 which it had hit in October, 2018.

It had opened at 74.39, weaker by 17 paise from its previous close of 74.22.

However, the rupee has appreciated marginally from its lows and is currently trading at 74.09 per dollar.

With an aim to curb further weakness for the rupee, the Reserve Bank of India (RBI) on Thursday announced that it will undertake a six-month ‘sell/buy swap' to provide liquidity to the foreign market.

Central banks across the world, including the US Federal Reserve have taken steps including announcement of emergency rate cuts to boost investor sentiments.

Further, fall in crude oil prices also weighed on the rupee market. Brent crude is currently at $33.03, which is 0.6 per cent lower than its previous close.