Rupee slides further; hits fresh low of 71

The Indian rupee plunged to a fresh record low of just over 71 to a US dollar during the morning trade session on Friday.

Around 10 a.m. the Indian rupee was pegged at 70.97-98 to a US dollar after it touched 71 to a US dollar — the lowest ever mark — against the greenback.

It opened the day's trade at the Inter-Bank Foreign Exchange Market at over 70.90 to a USD which was even below its record low of 70.85 to a greenback.

On Thursday, the Indian rupee closed at 70.74-75 against the US dollar, weaker 15 by paise from Wednesday's close of 70.59-60 to a US dollar.