In what it could be a shocker the Indian rupee has dropped severely as the value has slipped to below 74-per dollar which is the lowest value since October. The early trade has witnessed the Indian equities facing a slump by around 3%.
The downfall of Indian rupee came after a fall in the global markets in the wake of the concerns over the deadly coronavirus including the Reserve Bank of India seizing the control of the Yes Bank with the bank failing to raise its new capital.
At the early trade, the Indian currency opened at Rs 73.90 and slipped down to the lowest of 74.09 per dollar which is the lowest value since 30 October 2018. The currency which traded at 74.08 per dollar and went down by 1.01%, the biggest fall since 3rd of September 2019, earlier the lowest marked was at 73.32.
The total currency of Asia was also weakened with South Korea's won and Indonesia's rupiah with China and Korea reporting more deaths from the coronavirus
The downfall of Indian rupee came after a fall in the global markets in the wake of the concerns over the deadly coronavirus including the Reserve Bank of India seizing the control of the Yes Bank with the bank failing to raise its new capital.
At the early trade, the Indian currency opened at Rs 73.90 and slipped down to the lowest of 74.09 per dollar which is the lowest value since 30 October 2018. The currency which traded at 74.08 per dollar and went down by 1.01%, the biggest fall since 3rd of September 2019, earlier the lowest marked was at 73.32.
The total currency of Asia was also weakened with South Korea's won and Indonesia's rupiah with China and Korea reporting more deaths from the coronavirus