The rupee today fell as much as 0.4% or 34 paise to 73.63 today with new coronavirus cases being reported in the country. But the rupee pulled back to close higher at 73.22 as compared to the previous close of 73.29. Some analyts attributed the pullback to intervention by the RBI. India has so far reported 28 positive cases, which includes 15 Italian tourists. So far during the day, the rupee traded in the range of 72.90 to 73.63 against the US dollar.
The rupee is expected to remain under pressure and it may gradually depreciate to 74.20-74.50 levels, said Rushabh Maru, research analyst at Anand Rathi Shares.
https://www.livemint.com/market/stock-market-news/rupee-falls-sharply-against-us-dollar-as-more-coronavirus-cases-emerge-in-india-11583314487170.html
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The rupee today fell as much as 0.4% or 34 paise to 73.63 today with new coronavirus cases being reported in the country. But the rupee pulled back to close higher at 73.22 as compared to the previous close of 73.29. Some analyts attributed the pullback to intervention by the RBI. India has so far reported 28 positive cases, which includes 15 Italian tourists. So far during the day, the rupee traded in the range of 72.90 to 73.63 against the US dollar. The rupee is expected to remain under pressure and it may gradually depreciate to 74.20-74.50 levels, said Rushabh Maru, research analyst at Anand Rathi Shares. https://www.livemint.com/market/stock-market-news/rupee-falls-sharply-against-us-dollar-as-more-coronavirus-cases-emerge-in-india-11583314487170.html