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The rupee plunged 20 paise and settled below the 75 per US dollar level on Monday tracking negative domestic equities and strengthening American currency.
The rupee opened on a weak note at 74.91 at the interbank forex market, and closed for the day at 75.01 (provisional) against the US dollar, registering a decline of 20 paise over its previous close of 74.81 against the greenback.
During the session, the local unit witnessed an intra-day high of 74.88 and a low of 75.03 against US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.11 per cent to 93.45.
Forex traders said foreign fund outflow, a strong dollar, muted domestic equities and rising Covid-19 cases dragged the local unit down.
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