The world is facing one of the major global crises - the Covid-19 pandemic. In a strongly connected and integrated world, where all the major economic functions like consumption, production, exchange and investment are highly globalized, the impacts of the disease are widespread. Global financial markets have also been highly responsive to the changes. The most visible outcome of the COVID-19 crisis on financial markets was the effect in the global stock market. The present study attempts to understand the impact of the pandemic caused by the COVID-19 crisis on foreign exchange rates by understanding the Foreign Exchange Market with special reference to the Indian scenario, analysing S&P BSE index data in pre COVID-19 crisis period and during COVID-19 crisis period, analysing the Exchange rates in pre COVID-19 crisis period and during COVID-19 crisis period, drawing comparison between Pre COVID-19 crisis period and during COVID-19 crisis period in relation to S&P BSE Sensex (open value, lower value, higher value, and close value) and currency exchange rates (US Dollar, Pound Sterling, Euro and Japanese Yen), analysing the relation between variables of S&P BSE index (open value, lower value, higher value, and close value) and currency exchange rate (US Dollar, Pound Sterling, Euro and Japanese Yen) and analysing the effect of changes in BSE Sensex and currency exchange rates on the Indian stock market. The study is based on secondary data where comparison has been done by defining the time period of pre COVID-19 crisis period as January 2019 to January 2020 and during COVID-19 crisis period as February 2020 to April 2020. Quantitative analysis has been done through statistical tests such as normality test, Mann Whitney test and Spearman’s rank correlation coefficient analysis using SPSS. It can be concluded from the present study that there is declining behaviour of the equity market as per S&P BSE Sensex index and higher currency exchange rate in terms of INR during COVID-19 crisis period. In other words, the Indian stock market is more affected by currency exchange rates in COVID-19 crisis period than Pre COVID-19 crisis period. The results may help the policy makers and investors in developing suitable financial solution to stabilize the present economic crisis condition due to COVID-19.This study will hopefully help in opening up new research areas on the impact of performance of stock market indices of the selected countries and BSE Sensex or FDI and FII with BSE Sensex in the Pre COVID-19 and during COVID-19 periods.

Keywords: COVID-19, BSE Sensex, Exchange Rates, Financial Impact, SPSS.