Indian rupee hits fresh low of 20.34 against UAE dirham

Indian rupee hits fresh low of 20.34 against UAE dirham

Indian rupee hits fresh lifetime low of 20.34 against UAE dirham. The rupee hit�fresh lifetime low of 20.34 against the UAE dirham on Tuesday morning amid mounting fears of a coronavirus-led economic slowdown, according to XE.com .. �Though weakening of the American currency in the overseas market and easing crude oil prices supported the rupee, but traders believe there is mounting fears of recession in major economies due to the coronavirus outbreak and this could weigh on the local unit.. On Monday, the rupee opened weak at 73.99 at the interbank forex market and then fell further to 74.03, down 16 paise over its last close.. The rupee had settled at 73.87 against the US dollar on Friday.. The dollar steadied somewhat on Tuesday after heavy losses against the yen, the euro and the Swiss franc, but traders warn the risks to the greenback remain high as policymakers try to fight off the widening fallout from the coronavirus epidemic.. The US currency started to grind higher as Wall Street stock futures rose, and bond yields bounced, after US President Donald Trump said the White House will hold a news conference on Tuesday about economic measures in response to the