Rupee slumps 26 paise to close at historic low of 71 level

At the Interbank Foreign Exchange (Forex) market, the local currency opened at 70.95 a dollar and slipped further to hit its lifetime low of 71 from its previous close of 70.74. The rupee pared some of the losses to touch a day's high of 70.85 but slumped in late trade to close at its lifetime trading low of 71.00.

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