Corona virus havoc: Rupee fell 95 paise against dollar, came down to below 76

The rupee fell on Monday against the dollar. The rupee fell to a level of 76.15 during early trade, losing 95 paise. Rapidly increasing cases of corona virus in the country and heavy selling in the domestic stock market saw pressure on the rupee. The Indian rupee fell 95 paise to 76.15 against the US dollar during opening trade on Monday.
During this period, due to fast growing cases of Corona virus in the country and heavy selling in the domestic equity market, the rupee was under pressure. According to traders, market participants are worried that the growing cases of corona virus may affect the economy. At present, the number of corona virus cases has increased to around 400 in the country.

The rupee opened at 75.90 with a weak opening in the interbank foreign exchange market and fell further to 76.15 against the US dollar. The rupee depreciated by more than 95 paise against the previous closing price. The rupee had closed at 75.20 against the US dollar on Friday.

The traders said that there is a sense of concern among the investors as they are seeing the domestic economy along with other countries of the world in deep crisis due to Corona virus epidemic. The disease has infected millions of people worldwide and more than 14,000 people have died.

He said that market sentiment was also affected by the frequent heavy selling by foreign investors in the domestic equity market. Foreign investors continued to be net sellers in the Indian capital markets as per the stock market data and made net sales of over Rs 3,345.95 crore on Friday.