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Coronavirus outbreak: Rupee closes above 73, experts see more pain

The Reserve Bank of India (RBI) did not intervene in the market, even as the offshore markets showed rupee to be weaker by 10-11 paise against the dollar

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However, after a 50 basis points rate cut by the US Fed, the offshore rates fell to 72.92 a dollar. At 8.50 pm IST, the rupee was trading at 73.09-10 a dollar in the offshore markets

Anup Roy Mumbai

3 min read Last Updated : Mar 04 2020 | 1:06 AM IST

The rupee fell again on Tuesday, crossing 73 level to close at 73.30 a dollar level, as coronavirus positive cases increased to six in India.

The Reserve Bank of India (RBI) did not intervene in the market, even as the offshore markets showed rupee to be weaker by 10-11 paise against the dollar till the market close in India.

However, after a 50 basis points rate cut by the US Fed, the offshore rates fell to 72.92 a dollar. At 8.50 pm IST, the rupee was trading at 73.09-10 a dollar in the offshore markets. For most part

Topics : Coronavirus Rupee falls Reserve Bank of India RBI Markets Sensex Nifty

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