Rupee weakens to record low; breaches 76 mark


Mumbai, Mar 23 (IANS): 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.

 

  

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Comment on this article

  • Lionel Dsouza, Mangalore

    Tue, Mar 24 2020

    DUE TO INTERNATIONAL REASONS...…...

    DisAgree [1] Agree [1] Reply Report Abuse

  • Langoolacharya., Belman / Washington, DC.

    Mon, Mar 23 2020

    Bhandumaam,

    I trade in NYSE since last 17 years...What you said is correct....In this time Gold is stable to have...As I write this US markets are 4 % Down and Gold / GLD is up by 3.65 %...

    Market will become OK in July...before that its going to become worse I am sure.....

    Anti Malaria drug Quinine or Hydro Quinine is 75% effective against CORVID-19....So is anti-Hypertension drug Losartan ...Wait for a few weeks...We will have an effective Vaccine for CORVID-19.... soon...

    ...Tak...Takk...

    DisAgree [6] Agree [13] Reply Report Abuse

  • David Pais, Mangalore

    Tue, Mar 24 2020

    investing, selling & buying in stock exchange is a gamblling work.

    DisAgree Agree [2] Reply Report Abuse

  • David Pais, Mangalore

    Mon, Mar 23 2020

    demonetization made youth jobless, Chaiwala destroyed India's economy even after lowest crude oil prices in da int'l market; plunged into the lowest.

    Today's crude oil price in da Int'l., market.

    WTI Crude $23.00 per barrel. (-11.43)
    Brent Crude $29.00 per barrel (-12.07).

    Rupee value against $ will cross Dr manmohan singhji age.

    DisAgree [8] Agree [53] Reply Report Abuse

  • Langoolacharya., Belman / Washington, DC.

    Mon, Mar 23 2020

    David,

    Why should you behave like 'Vighna Santhoshi' ???...

    Don't try to cut the tree on which you are sitting my friend...

    You don't like BJPeee and Modi...its fine...Don't hate your COUNTRY INDIA my friend...

    ...Tak...Takk...

    DisAgree [29] Agree [11] Reply Report Abuse

  • David Pais, Mangalore

    Mon, Mar 23 2020

    b4 pointing 2 me about your accusation, u should quote my comment where I have written against my country india. my point of view is people should not blindly vote 2 a illiterate man. da result of my country's economy is b4 u & me.

    DisAgree [6] Agree [43] Reply Report Abuse

  • R.Bhandarkar, Mangaluru

    Mon, Mar 23 2020

    Lan Sir
    Mr.Pais despite clapping ,praying and ringing bells yesterday and being tired is on his feet today with Statistics on oil barrel rates,Manmohan Singhjis age,dollar rate and what have you ....
    Look at the range and appreciate.
    Its when he opens up against PM Modiji,his b4,u ,da,,2 and such things come in making the whole thing a hotch potch.The day he accepts Modiji
    as his PM too it will be all clear.Right ?

    DisAgree [27] Agree [7] Report Abuse

  • David Pais, Mangalore

    Tue, Mar 24 2020

    @langool what is da percentage of jobless us citizens in da usa. & tell me what is da percentage of jobless Indian citizens in india.

    DisAgree Agree [6] Reply Report Abuse

  • Nice, Mangalore

    Mon, Mar 23 2020

    .

    Guess if our Economy was strong and not Reying on Imports and more important people had money in hands to spend , it would have been irreverent if the Rupee is hammered.

    .

    DisAgree Agree [20] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Mon, Mar 23 2020

    When everything is going down - Why is our Rupee is going up.
    I will appreciate if any Economist in India can throw some Light ...

    DisAgree [5] Agree [38] Reply Report Abuse

  • El En Tea, Mumbai

    Mon, Mar 23 2020

    Saldanha, Man you are not paying proper attention.
    From where I see everything is going up-
    COVID19 Transmission
    Inflation
    Unemployment
    Rupee
    Price of essential items

    DisAgree [3] Agree [25] Reply Report Abuse

  • R.Bhandarkar, Mangaluru

    Mon, Mar 23 2020

    "Look at the World NOT from your position but look at the World from your Position "
    Got it ? No?
    Tell me who can get it ?

    DisAgree [33] Agree [9] Reply Report Abuse

  • Ramesh Perla, Moodubidri

    Mon, Mar 23 2020

    Wonderful Bhandarkar sir. I wish and hope if Non-BJP (Non Modi) govt existed in centre, and world facing similar issues, your tune would have been completely different. Pls do not say NO. All Andh Bhakts are same, whatever Modi does, they praise...now it is time to fight Corona and not to clap!

    DisAgree [6] Agree [41] Report Abuse

  • R.Bhandarkar, Mangaluru

    Mon, Mar 23 2020

    The way Global Markets are tanking think 2020 will indeed be one of Recession.
    Valuations have no meaning now. Not that their valuations are OK in a frenzied ' Bull Run ' either !
    Dollar and Gold considered safe havens during these recession times are the safest bet.
    The ' beauty parlor dressing ' of some our stocks in the Share Market has worn off and they have been completely exposed.
    It was hilarious to note that a Fraudalent. YES BANK share which was propped up by some banks by infusing capital rule at somewhere around 75 rupees !! ...Why ? Because a Syndicate Bank Share which had nearly 100 years of existence and crores of assets in own buildings was ruling at
    15 rupees !! Can you believe this market ?? Be very prudent folks while investing ...
    God save us in all times.

    DisAgree [10] Agree [16] Reply Report Abuse


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