Indian rupee slumps 52 paise to $74.87

20 April, 2021 12:00 AM printer

MUMBAI: The Indian rupee slumped 52 paise to 74.87 against the US dollar in opening trade on Monday, amid fears that a rapid resurgence of COVID-19 cases in the country could disrupt economic recovery.

Besides, heavy selloff in domestic equities also weighed on investor sentiment. At the interbank forex market, the domestic unit opened at 74.80 against the US dollar, then fell further to 74.87, registering a fall of 52 paise over its previous close, report agencies.