The Indian rupee accelerated its fall to log its steepest single-day fall in nearly two years and ended the session 58 paise down at its historic low of 86.62 (provisional) against the US dollar on Monday, weighed down by a stronger American currency and surging crude oil prices. Sharply lower domestic equities also added to mayhem for the local unit. Indian shares plummeted on Monday, losing ground for a fourth straight session, amid weak global cues and as investors were wary of picking up stocks ahead of key inflation data. The BSE benchmark Sensex closed down 1,048.90 points or 1.36% at 76,330.01, while the broader Nifty50 of the National Stock Exchange settled lower by 345.55 points or 1.47% at 23,085.95. At the interbank foreign exchange, the rupee opened at 86.12, and moved 1 paisa during intraday to 86.11 before closing the session with a loss of a staggering 58 paise at its lowest-ever level of 86.62 (provisional) against the greenback. The fall of 58 paise, or 0.67 per cent, in one session was the steepest since February 6, 2023 when the unit had lost 68 paise.
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