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Forex News: Indian Rupee Drops Below 73-mark Against U.S. Dollar

Indian Rupee Drops Below 73-mark Against U.S. Dollar

03/03/2020 - 07:17:00 (RTTNews)

(RTTNews) - The Indian rupee lost ground against the U.S. dollar in the evening session on Tuesday amid concerns over the economic threat due to the coronavirus outbreak.

Meanwhile, the Reserve Bank of India said that it is closely monitoring global as well as domestic situation regarding the impact of deadly coronavirus and that it stands ready to take necessary action to ensure orderly functioning of financial markets.

The Indian rupee hit 73.54 against the greenback, its lowest level since October 2018. At yesterday's trading close, the pair was valued at 72.59. Next key downside target for the rupee is likely seen around the 75.00 level.

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