Currency Buzz: INR Plunges Lower To Settle At 74.62/$

24 Jan 2022 , 05:39 PM

The Indian rupee on Monday slumped by 19 paise to 74.62 (provisional) against the US dollar at close due to high crude oil prices, sustained foreign fund outflows and sharp decline in domestic equities amid growing geo-political worries. Besides, strength of the American currency in the overseas market and weak appetite for riskier assets also dragged down the local unit. At the interbank foreign exchange market, the local currency opened at 74.43 against the greenback and witnessed an intra-day high of 74.42 and a low of 74.69 during the session. The rupee finally settled at 74.62, down 19 paise or 0.26 per cent over its previous close of 74.43.

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