Rupee opens flat at 75.87 per dollar

March 26
11:09 2020

Indian rupee opened flat at 75.87 per dollar on Thursday against Tuesday’s close of 75.88.

On Wednesday the Indian currency market was shut on account of Gudhi Padwa.

Snapping its four-session losing run, the rupee on Tuesday gained 34 paise to end at 75.88 against the US dollar after Finance Minister Nirmala Sitharaman said the government is working on an economic package to deal with the coronavirus crisis.

The dollar fell against the yen on Thursday before data expected to show a surge in US claims for unemployment benefits as companies lay off workers due to the rapid spread of the coronavirus.

Oil prices were mixed following three days of gains, with the prospect of rapidly dwindling demand due to coronavirus travel bans and lockdowns offsetting hopes a US $ 2 trillion emergency stimulus will shore up economic activity.

Gold prices fell as investors scurried for liquid cash while awaiting the passage of US stimulus package to combat the economic impact of the coronavirus epidemic.

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