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A massive fall in local equities amid heightened global volatility took its toll on the currency market on Friday, with the rupee plunging 20 paise to end at a fresh two-week low of 64.38 against the US dollar. This is the biggest one-day fall for the home currency since April 10.
At the Interbank Foreign Exchange market, the rupee resumed lower at 64.22 from Thursday’s closing of 64.18 and kept descending due to immense dollar pressure. It touched a fresh intra-day low of 64.39 in late afternoon deals before concluding at 64.38, showing a steep loss of 20 paise.
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