Rupee plummets 60 paise to close at all-time low of 77.50 against dollar

The rupee extended its losses and slumped 60 paise to close at a record low of 77.50 (provisional) against the US dollar on Monday, pressured by the strength of the American currency overseas and unabated foreign fund outflows. At the interbank foreign exchange market, the rupee opened lower at 77.17 against the greenback and finally settled for the day at 77.50, down 60 paise over its previous close.