Currency Market News: Rupee plunges 84 paise to 85.61 vs US dollar amid Indo-Pak tensions
Rupee fell sharply by 84 paise to close at 85.61 (provisional) against the US dollar on Thursday, as escalating geopolitical tensions between India and Pakistan triggered risk aversion among investors. Forex traders said the domestic currency came under pressure after Pakistan attempted to target several Indian military sites using drones and missiles—a move thwarted by India's defence systems. The geopolitical stress, coupled with a stronger US dollar and rising crude oil prices, further weighed on sentiment. The rupee opened at 84.61 at the interbank foreign exchange and swung between a...