The United States dollar has slipped below Rs 160 mark in the interbank market, the US dollar was available for Rs157.50 in inter-bank rate against the previous level of Rs160.17.
The greenback declined by Rs 1.17 as the activity started today and traded around 159 rupees. The US dollar had touched its peak of Rs 167.89 on April 7 and the rupee has appreciated by Rs 8.89 or 5.2 percent since.
The global epidemic Coronavirus has affected global trade and remittances have continued to decline as a result of the sharp decline.
Last month, the dollar fell by Rs6.53 in the interbank market, making other currencies cheaper than the rupee.
