In the Forex market, the rupee today plunged by 61 paise to settle at 86 rupees and 58 paise against the US dollar due to the strengthening of the US currency. The rupee remained under pressure also due to multiple factors including losses in the domestic stocks, stronger than expected US job growth data, surge in crude oil prices and higher US treasury yields.
The dollar index, which indicates the US dollar’s strength against a basket of six other leading currencies, is trading at 110.08 in intra-day trade.