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The Indian rupee resumed its downward journey after a day’s hiatus on Friday, plummeting by 54 paise to 73.87 against the US dollar as coronavirus-panicked investors assessed deteriorating financial markets.
At the interbank foreign exchange, the domestic currency started the session with a massive plunge at 73.94 to the US dollar. It went on to hit a day’s low of 74.08 before staging a recovery. The rupee finally settled with a loss of 54 paise at 73.87 a dollar.
The Indian unit had clocked its first gain after falling for five sessions on Thursday.
On a weekly basis, the rupee has lost 163 paise or 2.25 per cent.
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