The rupee on Monday the 23 of March slipped to 76.28 against the US dollar and looks all set to weaken further. This happened in the midst of sharp rise in Coronavirus cases in the country and heavy selling in domestic equities. The rupee opened on a weak note at 75.90 and then consistently lost further ground to go beyond the 76/$ mark. One reason has been the sharp spike in the dollar index to 102.28 as oil weakened and safe haven buying in US assets built up. The rupee was also weak as more than 80 districts in 17 states are under a total lockdown. States such as Punjab and West Bengal have also announced a complete lock-down to enforce social distancing. This includes commercial vibrant hubs of Mumbai, Delhi, Chennai, Bengaluru, Hyderabad, Pune and Gurugram; among others. One thing is also clear that the RBI is calibrating its response on intervention and has been intervening just on and off. That may be become clearer once there is a global respite in corrections.