Indian rupee almost touches 191 per Omani riyal

Muscat: The Indian rupee opened at 73.10 on Wednesday, and gained further ground, touching a high of 72.90 against the US dollar.

As a result, against the Omani riyal, the rupee was trading at 190.967 at 11.45, according to one of the local banks in Oman.

Meanwhile, the gold rate was trading at RO20.050 per gram for 22 karat and RO 20.850 per gram for 24 karat

According to market analysts, the depreciation in the rupee against the US dollar is mainly been due to the coronavirus fears and there are chances that the exchange rate could depreciate further to around 74.23 against the dollar.

Analysts expect gold to climb further as investors seek safety in gold due to fears of a worldwide economic slowdown with coronavirus now spreading faster outside China.