Mumbai: The rupee on Monday declined by 36 paise to close below the 72 level against the US currency for the first time in nine months, hit by a 'flash crash' in global currencies due to uncertainty over the trade front. The rupee settled down by 36 paise at 72.02 to the US dollar, the lowest closing level since November 14, 2018, even as equities spurted more than 700 points at close on stimulus measures.
The local currency had retreated to a low of 72.25 in day trade following a flash crash in currencies such as Turkish lira, Chinese yuan, and Australian dollar against the US dollar. The global currencies faced a meltdown in the overnight trade due to the escalation between the US and China over the weekend.
