Rupee plunges 74 paise at 66.50 against dollar in early trade

Zee Media Bureau

New Delhi: The Indian rupee slipped below by 74 paise, or 1.11 per cent, at 66.50 against the US dollar in early trade on Monday as a result of strong demand for the US Dollar from banks and importers.

The US Dollar has strengthened against major global currencies on the back of strong US jobs data in October. The lower opening in BSE and Nifty also weighed on the rupee.

The rupee had closed one paise lower at 65.76 against the US dollar at the Interbank Foreign Exchange on Friday.