Rupee slumps 52 paise to 74.87 against U.S. dollar in early trade
The Hindu
On April 16, the rupee had settled at 74.35 against the American currency
The Indian rupee slumped 52 paise to 74.87 against the U.S. dollar in opening trade on April 19, amid fears that a rapid resurgence of COVID-19 cases in the country could disrupt economic recovery. Besides, heavy selloff in domestic equities also weighed on investor sentiment. At the interbank Forex market, the domestic unit opened at 74.80 against the U.S. dollar, then fell further to 74.87, registering a fall of 52 paise over its previous close.
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