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The Indian government announced on Friday that it will be extending the coronavirus lockdown for two more weeks after May 4th with an aim to limit the spread of the contagion, as reported by Reuters.

The government further stated that it will be allowing some “considerable relaxations” in districts that are considered to be lower-risk areas.

Market reaction

The USD/INR pair is staying near the upper limit of its daily ranged around 75.70 after this announcement and rising 0.8% on a daily basis.