Indian rupee breached Rs.75 a dollar scaling the previous low of October 2018 and touched a new low as equities faced another rout on Coronavirus fears. Contrary to popular practice, the RBI did not intervene at 74 but only intervened briefly at 75 levels. Apart from the negative cue in India and globally, the thinly traded market is compounding problem for the rupee as any minor lumped up demand for dollar, or slight dollar sales by the RBI is changing the course of the exchange rate. In short, the rupee is currently in uncharted territory and any resistance levels may be largely meaningless. The Bloomberg Dollar Index (DXY) crossed the 100 mark as funds sought safe haven investment in US treasury.