MUMBAI: The rupee plunged 23 paise to close at a five-month low of 86.78 (provisional) against the US dollar on Monday amid a strengthening dollar and volatile crude oil prices following the US strike on Iran’s nuclear facilities.
A sharp decline in the domestic equity markets further pressured the rupee, according to forex experts.
However, strong FII inflows, along with a rise in the country’s forex reserves prevented further losses in the rupee, they said.
