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Surging Covid cases pulls rupee below 75/$
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SME Times News Bureau | 12 Apr, 2021
The Indian rupee continued to depreciate for the sixth consecutive day,
breached the 75 per US dollar mark amid rising cases of Covid-19 and
concerns of fresh localised lockdowns.
On Monday, the rupee closed at 75.05 per dollar after weakening to an over eight-month low of 75.14 against the greenback.
Further,
a freefall in the equity market, along with rising crude oil prices,
and outflows of foreign funds, also weighed on the Indian currency,
analysts said.
The Indian stock market witnessed its biggest
single-day fall of 2021 on Monday. The BSE Sensex fell 1,707.94 points
to close at 47,883.38.
After a largely bullish sentiments among
the foreign portfolio investors, they have now started pulling out
investments from Indian equities. So far in April, they have pulled out
net investments worth Rs 1,348 crore from the equity market.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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