Indian rupee closed at 72.42 mark on Thursday and on February 26, 2021 it opened with a loss of 62 paise at 73.04 a US dollar an it was credited to the rise in US treasury yields boosted and this is the lowest level seen by Indian currency in this month.
Rupee was seen 10 paise lower in the previous session at 72.42 per dollar and even buying was seen in the equity market. Financial expert said that USD-INR March futures closed at 72.75 levels but the experts do not expect major upward movements from the currency current levels and opportunities remain short.
A major selloff was seen in the Indian equities as Sensex is down by more than 1,100 points and Nifty is below 14,800 mark. Nifty Bank, Private banks, PSU Banks and financial services indices fell more than 3%.