THE RUPEE: $ maintains upward trend

The dollar managed to maintain upward trend versus the rupee on the inter-bank market during the week, ended on 03, 04, 2020.
INTER-BANK MARKET: The rupee lost 90 paisas against the dollar for buying at Rs 166.90 while the national currency shed 50 paisa for selling at 167.00.
Commenting on persisting demand for dollar, money experts observed that a kind of uncertainty was persisted before coronavirus owing to weak economic fundamentals. The supply of dollar is not matching with the demand, this is also a factor behind the dollar increase.
Expected rise in oil prices and after path impact of coronavirus, will naturally push the rates of all essentials, including dollar, they added.
INTER-BANK MARKET: On Monday, the rupee was available versus the dollar at Rs 166.00 and Rs 166.50. On Tuesday, the rupee continued slide versus the dollar for buying at 166.60 and it was also down for selling a at Rs 166.90. On Wednesday, the rupee shed 10 paisa for buying at Rs 166.70 while it was unmoved for selling at Rs 166.90.
On Friday, the rupee fell in terms of dollar for buying and selling for buying and selling at Rs 166.90 and Rs 167.00.
WORLD VALUE OF DOLLAR VS OTHER CURRENCIES: In the first opening day, the dollar snapped a week of decline and the safe-haven yen found support, as conoravirus lockdown tightened across the world.
The second day, the dollar maintained upward trend in terms of the dollar. The third day, the rise was seen in the value of the US currency versus the major currencies.
During the last sessions of the week , , the dollar boldly held the rise versus the other major currencies.