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Rupee tumbles 70 paise against US dollar, hits 17-month low
Posted on 12th March 2020
The rupee on Thursday nosedived a whopping 70 paise against the US dollar after World Health Organisation (WHO) declared the deadly Coronavirus (Covid-19) pandemic. The currency hit a low of 74.34 during the session. However, later it trimmed some losses to trade at 74.12.

The number of cases in over 100 countries around the world has risen to more than 124,000, with over 4,500 deaths, including a jump in fatalities in Iran and Italy in particular, according to an AFP tally.

China remains the worst-affected country with more than 80,000 confirmed cases and over 3,000 deaths.

On Wednesday, the domestic unit settled at 73.64 against the greenback amid some respite in the domestic equities and weakening of the American dollar in the overseas market.

"More or less the market will keep trading volatile as Corona virus updates keep the buyers interested in USD/INR pair but falling crude prices give the strength to rupee," said Jateen Trivedi, Senior Research Analyst (Commodity & Currency) at LKP Securities.

Foreign investors continued to dump Indian equities amid Coronavirus scare. On Wednesday, overseas investors were net sellers to the tune of Rs 3,515.38 crore while domestic investors (DIIs) were the net buyers to the tune of Rs 2,835.46 crore.

In the equity market, stocks continued to slide and the indices entered the bear market. At 09:44 am, the S&P BSE Sensex was trading around 1,650 points or 4.6 per cent lower at 34,052 while the NSE's Nifty50 index slipped below the crucial 10,000 level for the first time since October 2017. It was trading at 9,957 points, down 501 points or 4.8 per cent.
Related Companies: Bombay Stock Exchange - BSE   

Other Latest News
Noida gets 400-bed Covid-19 hospital, CM Yogi Adityanath reviews facilities
Posted on 8th August 2020
Uttar Pradesh Chief Minister Yogi Adityanath on Saturday inaugurated a dedicated 400-bed government hospital for COVID-19 patients in Noida.

The facility is located in Sector 39 of the city and has come up in association with the Tata Trusts and the Bill and Melinda Gates Foundation, according to officials.

Gold price today at Rs 56,050 per 10 g; silver at record Rs 76,510 a kg
Posted on 8th August 2020
Gold prices today jumped to Rs 56,050 from Rs 55,350 per 10 gram, while silver climbed to Rs 76,510 from Rs 73,500 per kg, according to Good Returns website.

Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

US election: China would love to have me lose to 'sleepy' Biden, says Trump
Posted on 8th August 2020
US President Donald Trump on Friday (local time) said that China would love to have an election if he lost to his sleepy Democrat presidential candidate Joe Biden.

China would love for us to have an election where Donald Trump lost to sleepy Joe Biden. They would dream (that) they would own our country. If Joe Biden was president, China would rule our country, he told reporters here.

Facebook builds 600 affordable homes to address housing crisis in US
Posted on 8th August 2020
Facebook has produced and preserved approximately 600 affordable homes near its headquarters in Menlo Park, California, of which roughly 70 per cent are reserved for extremely low and very low-income residents.

The company said it is on track to creating approximately 750 affordable homes by 2022.

Amazon, Flipkart set to witness business worth $600 mn during sale events
Posted on 8th August 2020
E-commerce companies Amazon and Flipkart are expecting to witness a total business of about $600 million during their ongoing sale events. This is at least 25 per cent higher in terms of sales compared to the business these firms would have generated for such small scale events during pre-Covid times, according to the industry insiders and analysts. They are also witnessing an increase in volumes (number of orders) which is 40 per cent higher than the normal times. Walmart-owned Flipkart is running the 5-day ‘Big Saving Days’ sale till Monday, coinciding with Amazon's 48-hour Prime Day sale which ended on Friday night.

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