21:33 GMT18 September 2020
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    Coronavirus Pandemic: Borders Shut, Public Events Cancelled (257)
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    India previously went on partial lockdown amid the Janta curfew to stop the outbreak of the coronavirus in the country. At the moment, almost 400 have been infected in the country, while the death currently stands at 7 people.

    The Indian rupee's exchange rate to the US dollar dropped below 76 for 1 on Monday, as coronavirus fears hit the global economy. Following the drop, trading was stopped for 45 minutes.

    In March, foreign investors liquidated their Indian equity investments worth at least $5.16 billion, which resulted in high demand for the dollar on the country's market.

    India's currency has been in decline this year, and lost even more value after the outbreak, as at the beginning of the month it was trading at 75 per dollar, and back in February - around 71 per dollar.

    FILE PHOTO: A man wearing a protective mask walks past a bus stop displaying preventive measures against the coronavirus in Mumbai, India, March 18, 2020.
    © REUTERS / Francis Mascarenhas
    FILE PHOTO: A man wearing a protective mask walks past a bus stop displaying preventive measures against the coronavirus in Mumbai, India, March 18, 2020.

    Since the beginning of the COVID-19 pandemic in December, the disease has spread to almost every country, infecting around 340,000 people and killing almost 14,700. Numerous countries have introduced severe quarantine measures and imposed travel bans to curb the virus, resulting in serious turmoil for the world's markets.

    Topic:
    Coronavirus Pandemic: Borders Shut, Public Events Cancelled (257)
    Tags:
    Economy, US dollar, US dollar, dollar, United States, rupee, India
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