Indian rupee hits 17-month low at 74.34/$

Gallery

MORE...

Sports

Hockey India names Amir Ali-led 20-man team for Junior Asia Cup

Hockey India on Monday announced the 20-member squad for the Men's Junior Asia Cup, a qual

Harmanpreet Singh named FIH Player of the Year, PR Sreejesh gets best goalkeeper award

World Boxing medallist Gaurav Bidhuri to flag off 'Delhi Against Drugs' movement on Nov 17

U23 World Wrestling Championship: Chirag Chikkara wins gold as India end campaign with nine medals

FIFA president Infantino confirms at least 9 African teams for the 2026 World Cup

Hockey, cricket, wrestling, badminton, squash axed from 2026 CWG in Glasgow

MORE...

Indian rupee hits 17-month low at 74.34/$

Last Updated : 12 Mar 2020 10:49:25 AM IST

file photo

The Indian rupee on Thursday weakened to a 17-month low of 74.34 per US dollar as global markets slumped after the World Health Organization declared coronavirus as a global pandemic.

It has however, somewhat recovered from the lows to trade around 74.14 per greenback.

The rupee hit its record low in October, 2018, when it was 74.48.

The concerns of the coronavirus outbreak severely impairing the global economy have off late weighed on the investor sentiments across markets. The declaration of the disease as a pandemic late on Wednesday has further deepened the concerns.

Stocks markets across the globe have plunged after WHO's announcement on Wednesday. Indian equities also slumped with the BSE Sensex trading over 1,800 points lower.

At 10.20 a.m., Sensex was trading at 33,824.09, lower by 1,873.31 or 5.25 per cent from its previous close. The NSE Nifty50 was trading 564.45 points or 5.40 per cent lower at 9,893.95.

Along with the coronavirus fears, fall in oil prices also led to the depreciation in the Indian currency. Brent crude is currently trading around $34 per barrel.