Rupee plunges to 72 against US dollar for the first time in 2019

Extending its downfall, the rupee on Friday plunged to 72 against US dollar, down 19 paise against its previous close in the early morning trade. The currency was set for the biggest monthy fall in six years. In August alone, it has plunged 4.6 per cent while so far in 2019, it has lost 3.9 per cent, as per TV reports. 

The domestic currency on Thursday crashed to an over eight-month low of 71.81, dropping 26 paise as tumbling equities and incessant foreign fund outflows weighed on sentiment.

The sudden drop in Chinese yuan also led to increased volatility in