The rupee gave up its day's gains to settle 8 paise lower at a fresh life-time low of 75.20 against the US dollar on Friday as forex market continued to grapple with economic uncertainties.
At the interbank foreign exchange market, the domestic currency opened higher at 74.82 and gained more strength as the day progressed. It went on to hit a high of 74.72 before succumbing to weakening sentiments.
"The progression of fast-spreading coronavirus has created havoc ... This uncertainty and hysteria have grappled the forex market, depreciating all emerging market currencies and taking rupee to record low of 75.30 zone," Rahul Gupta, Head of Research — Currency, Emkay Global Financial Services, said.