Rupee takes 52 paise plunge against Dollar

Mumbai: The rupee reversed its initial gains to settle sharply down by 52 paise at 72.76 against the US dollar on Monday mirroring a crash in local equities and forex outflows as detection of two fresh cases of novel coronavirus in India unnerved investors.

The rupee had started the day on a positive note and was trading with gains until a Union Health Ministry statement reporting two new cases of COVID-19 infection in the country triggered a sell-off in stock markets.

The Health Ministry said two more positive cases of the novel coronavirus -- one in Delhi and another in Telangana - have been reported.