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An official from India’s Health Ministry said on Wednesday,  sixteen Italian nationals in India have tested positive for coronavirus, bringing the total virus cases in the country to 28, per Reuters.

Earlier today, India’s Chief Economic Adviser Sanyal said that the central bank had further room to cut the interests to battle the coronavirus impact on the economy, as the prices pressures are seen falling over the coming months.

Rupee remains heavy

USD/INR is off the 16-month highs of 73.60, now trading at 73.43, still up 0.60% on the day.