₹ tanks 37 paise to all-time low of 84.09 against dollar

On Friday, the rupee settled 1 paisa higher at 83.72 against the US dollar in a range-bound trade

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The rupee slumped 37 paise to settle at an all-time low of 84.09 against the US dollar on Monday, following a sell-off in broader global markets amid rising geopolitical tensions in the Middle East and worries over recession in the US.

Forex traders said the downfall in the domestic unit came on the heels of a sharp downturn in the Indian equity markets and significant foreign fund outflows.

At the interbank foreign exchange market, the local unit opened at 83.78 and touched an intra-day high of 83.76 and a low of 84.09 against the dollar during the session.