Mumbai: The rupee on Monday plunged by 48 paise to hit its record low of Rs 57.54 in morning trade on heavy dollar demand and the US currency strengthening against major rivals overseas.   

Panic about Rupee 'unwarranted': FinMin

Panic about Rupee 'unwarranted': FinMin

Forex dealers said a firming dollar against euro and other currencies in the global market on the back of better-than-expected US jobs report and strong demand for the American currency from importers mainly weighed on the rupee.
    
The rupee had lost 22 paise to close below the key 57-mark at 57.06 on Friday against US dollar for the first time in a year.
    
Meanwhile, the BSE benchmark Sensex 136.99 points, or 0.71 percent, to 19,566.22 in morning trade.

(Agencies)

Latest News from Business News Desk