Summary:
Mumbai, Nov 29 (PTI) The rupee on Monday plunged by 23 paise to close at 75.12 (provisional) against the US dollar, as investors turned cautious in view of a new variant of COVID-19.
At the interbank foreign exchange market, the local currency opened at 74.84 and witnessed an intra-day high of 74.82 and a low of 75.16 against the US dollar in a highly volatile trading session.
The local unit finally settled at 75.12 a dollar, down 23 paise over its previous close.
On Friday, the rupee had plunged by 37 paise or 0.50 per cent against the US dollar to close at a nearly month"s low of 74.89, as investors resorted to risk-off sentiment.
Investor concern resurfaced about lockdowns amid a rise in COVID cases in Europe and a new variant, detected in South Africa.
The dollar index, which gauges the greenback"s strength against a basket of six currencies, was trading 0.11 per cent up at 96.19.