The rupee crumbled by a staggering 37 paise to end at a fresh lifetime low of 71.58 against the resurgent dollar on Tuesday as persistent trade worries and macro concerns continue to proliferate.
The rupee stretched its record fall for the fifth-straight session even as the RBI remained mostly on the sidelines, currency market participants said.
The rupee opened lower at 71.24 from the previous close of 71.21 at the inter-bank foreign exchange (forex) market.
Showing some initial resistant to the hardening dollar upsurge, the local unit bounced back to hit a session high of 71.09 briefly before resuming its downtrend.
After witnessing wide swings, it finally ended at its historic low level of 71.58, revealing a sharp loss of 37 paise or 0.52 per cent.