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Rupee gains against USD despite COVID concern

Market-Updates

The domestic currency – rupee – went stronger against US dollar on Wednesday, amid the impact of the COVID19 outbreak on the international economy.

As per WHO, COVID-19 has infected 184976 people and killed over 6,610 lives.

Meanwhile, investor mood has improved after RBI on Monday gave a hint that a rate cut at the next MPC meet on April-3 and announced some liquidity enhancing steps.

In addition, according to stock exchange data, Foreign Investors (FIIs) sold equity shares of Rs4044.69-Cr as of March 17.  Get the best  Market updates  and evertime   stocks tips  from the expert.

The rupee is currently at (1.35-pm) trading at 74.38, firmer by 12-ps from its Tuesday’s close of 74.24.