Rupee plunges 37 paise to close at fresh record low of 71.58 against dollar

At the Interbank Foreign Exchange, the rupee opened at 71.24 against a dollar and weakened further to close at all-time low of 71.58. Forex dealers said besides strong demand for the American currency from importers, capital outflows too weighed on the domestic currency. A sharp rally in global crude prices further dampened the overall trading sentiment.

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