Rupee plunges 58 paise to record low of 86.62

The rupee logged its steepest single-day fall in nearly two years and ended the session 58 paise down at its historic low of 86.62 (provisional) against the US dollar on Monday, weighed down by a stronger American currency and surging crude oil prices.

- Press Trust of India

MUMBAI:

At the interbank foreign exchange, the rupee opened at 86.12, and moved 1 paisa during intraday to 86.11 before closing the session with a loss of a staggering 58 paise at its lowest-ever level of 86.62 (provisional) against the greenback.

The fall of 58 paise, or 0.67%, in one session was the steepest since February 6, 2023 when the unit had lost 68 paise.

The Indian currency has witnessed the deepest plunge of more than Re 1 in the past two weeks from the closing level of 85.52 on December 30.

Rupee had breached the 85-per-dollar mark for the first time on December 19, 2024.