The rupee plunged below the 62 level by falling 36 paise against the US dollar. The rupee fell to 62.06 against the US dollar in early trade at the Interbank Foreign Exchange due to fresh demand for the American currency from importers. The rupee had closed at 61.70 on Friday.
Besides, a lower opening in domestic equity markets and forex outflows due to selling by foreign institutional investors kept pressure on the rupee, forex dealers said.
Foreign institutional investors sold shares worth Rs 96.45 crore on Friday. However, the dollar's weakness against other currencies overseas, capped the losses, they added.
Meanwhile, the benchmark BSE Sensex tumbled by 286.49 points, or 0.99 per cent, at 28,431.42 in early trade today.
Source:profit.ndtv.com
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