Free fall of the Indian currency continued for another day on Tuesday, as the Rupee fell by 29 paise to 72.69 fresh record low against the US Dollar on heavy capital outflows, fall of domestic equities, strengthening of dollar and as crude oil went past $78 per barrel mark, dealers at the Forex Market said.
With this, the domestic unit dropped by 96 paise in couple of days only.
Sliding by 67 paise on Monday, the local unit rose by 11 paise to 72.29 in opening trade. Later, it lost ground and tumbled down 29 paise to close negative at 72.69 as compared to its last close.
High oscillation was seen during the day as it registered day high and low at 72.75 and 72.25 respectively.
The rupee slumped to a new record low of 72.73 as emerging market currencies remained under pressure with a broad index down near 16-month lows.
With turmoil in Turkey and Argentina triggering contagion fears, appetite for emerging market assets they added.