The US Dollar Indian Rupee (USD/INR) exchange rate is on the rise, adding to last week’s shift higher. The pair trades at 73.44.
The Rupee is under pressure as the number of coronavirus cases continues to increase exponentially. New covid cases topped 90,000 in the past 24 hours. Indian now has recorded 4.2 million cases putting in above Brazil in terms of infection numbers. On the US has more cases at 6.2 million.
The US Dollar is heading higher on optimism from Friday’s non-farm payroll release and on safe haven trading as Trump blacklists another Chinese tech firm.