Rupee slumps 24 paise to close at 75.39 against U.S. dollar
The Hindu
On Thursday, the rupee had settled at 75.15 against the U.S. dollar.
The rupee plunged by 24 paise to 75.39 (provisional) against the U.S. currency at close on Friday due to fears of an aggressive rate hike by the Federal Reserve after U.S. inflation raced to a 40-year high in January.
Forex traders said muted domestic equities, sustained foreign fund outflows and elevated crude oil prices weighed on the local unit.
At the interbank foreign exchange, the rupee opened at 75.40 against the American dollar, and later witnessed an intra-day high of 75.27 and a low of 75.46 against the greenback.
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