2021.04.1505:52:00UTC+00Indian Rupee Falls To 2-day Low Against U.S. Dollar

The Indian rupee dropped against the U.S. dollar in the morning session on Thursday, as regional stocks fell amid a surge in coronavirus infections in the country.

The Union finance ministry, the Reserve Bank of India (RBI) and other key departments are in touch with stakeholders over possible economic relief to ensure that the resurgence of Covid-19 does not derail the economic recovery, media reports said.

India reported nearly 2 lakh fresh Covid-19 cases on Wednesday, with daily case count almost doubling in 10 days.

The benchmark S&P BSE Sensex slipped 471 points, or 0.97 percent, to 48,074, while the broader NSE Nifty index was down 128.10 points, or 0.88 percent, at 14,377.

The Indian rupee hit a 2-day low of 75.35 against the greenback. The next likely support for the Indian currency is seen around the 76.00 level.