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13 May

Research Icon - Rupee hits record low at 74.95 against the US Dollar

The Indian rupee opened at a record low against US Dollar amid concerns over the impact of the coronavirus pandemic on the global as well as domestic economy.

The currency is down by 69 paise at 74.95 per dollar against the previous close of 74.26/$.

Besides, foreign institutional investors (FIIs) sold shares worth Rs5,085.35cr, while domestic institutional investors (DIIs) bought shares worth Rs3,636.44cr, as per provisional data available on the NSE.

On the economic front, the Reserve Bank of India (RBI) announced it will purchase up to Rs10,000cr of Government of India dated securities via an open market operation (OMO) on March 20.

The domestic unit on Wednesday finished at 74.26/$, down 2 paise over its previous close.

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