SME Times News Bureau | 23 Mar, 2020
Covid-19 heavily battered the Indian rupee on Monday as it weakened to
an intra-day low of over 76 to a dollar.
Accordingly, this is the record low mark for the rupee. The previous level was
74.48 per greenback which was reached during late 2018.
Till now rupee weakened to 76.08 to a greenback at around 3.40 p.m. from its
previous close of 75.20.
According to Sajal Gupta, Head Forex and Rates, Edelweiss Securities:
"Markets are expecting some strong policy measures as has been done
globally to improve sentiments and provide support to markets."
The rupee movement comes a day after central and state governments announced
wide ranging measures including lockdowns and suspension of some public
transport to contain the spread of Covid-19.
Many manufacturing companies have suspended operations.