Rupee plunges 79 paise to hit record low of 69.62 against US dollar

Reversing all its early gains, the Indian rupee nosedived to its life-time low of 69.62, tumbling by 79 paise against the US dollar in morning trade on Monday in line with weakening domestic equities and global markets rout.

Increased demand for the US currency from importers and banks amid fresh foreign fund outflows mainly hit the rupee sentiment, forex traders said.

The rupee's previous record low was 69.13, marked on July 20, 2018.

On Friday, the rupee had lost 15 paise to end at 68.83 against the resurgent dollar.

Meanwhile, the BSE Sensex fell over 288 points and the NSE