Rupee plunges 45 paise to 74.20 against US dollar in early tradebusinessUpdated: Mar 16, 2020 10:28 ISTThe Indian rupee plunged 45 paise to 74.20 against US dollar in early trade on Monday tracking weak opening in domestic equities and sustained foreign fund outflows. The rupee opened weak at 74.10 at the interbank forex market and then fell further to 74.20, down 45 paise over its last close. The RBI earlier also announced measures to infuse liquidity in the foreign exchange market, including the US dollar swaps worth USD 2 billion. Brent crude futures, the global oil benchmark, fell 2.87 per cent to USD 32.88 per barrel. The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell by 0.44 per cent to 98.31.

Source: Hindustan Times March 16, 2020 04:55 UTC