Rupee slumps 24 paise to close at 75.39 against US dollar
The rupee plunged by 24 paise to 75.39 (provisional) against the US currency at close on Friday due to fears of an aggressive rate hike by the Federal Reserve after US inflation raced to a 40-year high in January.
Forex traders said muted domestic equities, sustained foreign fund outflows and elevated crude oil prices weighed on the local unit. Pic: Reuters