On April 16, the rupee fell 43 paise to close at an all-time low of 76.87 per dollar in the interbank foreign exchange market on Thursday amid growing concerns of an economic slowdown due to the Coronavirus outbreak. Foreign exchange traders said that the market is currently avoiding taking too much risk. Therefore, investors are trending towards holding money in dollar-based assets and the dollar is strengthening against other global currencies. In the interbank currency exchange market, the rupee weakened to a low of 76.75 per dollar and remained under pressure. Finally, the rupee exchange rate closed at 76.87 per dollar, a loss of 43 paise against its previous closing price. The rupee ranged between 76.68 – 76.87 during trading. The rupee had closed at 76.44 against the dollar on Wednesday.
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