Rupee opens flat at 76.43 against US dollar

The rupee opened weak at 76.32 at the interbank forex market and then fell further to 76.43

Rupee slips 21 paise to 75.85 against US dollar

The rupee opened weak at 75.83 at the interbank forex market and then fell further to 75.85, down 21 paise over its last close

Forex traders said weak opening in domestic equities dragged the local unit amid mounting fears of a coronavirus-led economic slowdown

Investor sentiments recovered after Reserve Bank hinted at a rate cut at the next Monetary Policy Committee meet on April 3: Forex traders

On Wednesday, the rupee had maintained its upbeat trend and ended at a fresh two-month high of 64.31 against the US dollar.

Dealers attributed the rupee's fall to increased month-end demand for the US currency from importers.

On Thursday, the rupee had staged a rebound and ended at a fresh three-week high of 64.58 against the US dollar.

On Wednesday, the rupee had ended marginally lower by 3 paise at 64.92 against the US currency.

Stock markets continued to show strength that bolstered rupee sentiment, currency traders said.

On Monday, the rupee had retreated from its near one-week high and ended lower by 10 paise at 65.11.