The rupee plunged on Thursday to over 79.50 against the dollar as the greenback strengthened after Federal Reserve policymakers suggested more rate hikes are set to come.
Bloomberg quoted the rupee at 79.5437 against the dollar, a near 40 paise loss from the previous session’s close of 79.1613. The news agency showed the rupee traded in the range of 79.1900 to 79.8250 on Thursday.
PTI reported that the Indian currency fell 30 paise to close provisionally at 79.45 against the US dollar.
That, two days after the Indian currency hit a one-month high and below the 79-per-dollar mark for the first time in over a month.