Rupee can slip 3% more; rate cut, regulatory intervention needed

In the past few sessions, the move in the Rupee has been largely offshore driven, taking precariously close to a new all-time low of 74.48 against the US Dollar

The mayhem and bloodbath in domestic assets continues on as Coronavirus (COVID-19) spreads. The World Health Organisation (WHO) has declared the health scare a pandemic. There is extreme panic and risk aversion at this point in global markets. The US President Trump has restricted all travel from Europe for the next 30 days saying many Coronavirus cases in the US were seeded from Europe. India has suspended all tourist visas till April 15, 2020. We might now see more stringent travel and trade restrictions globally. 

In the past few sessions, the move in the Rupee has been largely offshore driven, taking