Rupee pared early gains and fell to an intra-day low of 70.95 against the US dollar.
Mumbai: The rupee on Monday plunged by 43 paise to close at nearly one-month low of 70.92 against the US dollar, reported news agency Press Trust of India (PTI). The fall came amid weak industrial output growth data, fall in domestic equity markets and sustained foreign fund outflows. A weak US dollar against major global currencies and fall in crude oil prices, however, capped losses of the domestic currency, said the report. At the Interbank Foreign Exchange (forex), the rupee opened on a firm note at 70.50 and touched a high of 70.44 per US dollar in early trade.
Source: NDTV Profit