The rupee on Monday crashed below the 72-mark to end at a life-low of 72.45 against the US dollar on growing fears of contagion from an emerging-market rout and escalation of global trade war.
Heavy speculative dollar demand along with panic among importers sent the domestic currency tumbling by a sharp 94 paise to hit a historic low of 72.67 in mid-morning trade, triggering the central bank intervention to defend the currency.
It finished the day 72 paise lower against the American currency — its biggest one-day crash since August 13.
After a short-lived recovery, forex market sentiment once again turned volatile after US President Donald Trump decided to raise the economic and financial stakes of the global trade war on Friday.