The rupee opened considerably weaker at 76.75 as investors flocked to safe have USD overnight amidst Trump withdrawing funding to WHO. USD/INR closed at 76.44 against its opening at 75.97 on the back of lower oil prices and flattening Virus curve. Earlier today, the International Monetary Fund said economic growth in Asia will contract to zero this year for the first time in 60 years.Growing concerns over economic slowdown worldwide dragged global share indices lower, which is expected to spill over to Indian benchmark indices as well. Owing to global risk aversion, overseas investors may pull out funds from Indian assets and weigh on the rupee further. Analysts expect the rupee to fall to as low as 77.00 a dollar because a sharp rise in offshore rates may result in arbitrage opportunity with over-the-counter rates. Trade volumes in the currency market may remain subdued due to lower attendance at banks' treasury desks amid the nationwide lockdown. Only merchant flows are being covered. Premiums on the one-year dollar/rupee forwards contract are likely to edge lower today as some banks may sell the greenback for forward delivery noting large surplus of rupee liquidity in the system.Trade volumes in the forwards segment are expected to be subdued today as well.On an annualised basis, premium on the one-year exact-period contract is seen in a range of 3.95-4.05%.