The rupee on Wednesday crashed by 75 paise, its first loss in last four sessions, to close at 70.18 against the US dollar amid strengthening of the greenback and heavy selling in domestic equities.
At the Interbank Foreign Exchange (forex) market, the rupee opened lower at 69.60 and fell further to touch the day’s low of 70.23 a dollar. The domestic currency, however, pared some losses and finally ended at 70.18 per dollar, down by 75 paise against its previous close.
On Tuesday, the rupee had appreciated 34 paise to 69.43 against the American currency.