Rupee plummets 105 paise

The rupee tanked 105 paise to close at 74.47 (provisional) against the US currency on Wednesday amid concerns over surging COVID-19 cases in the country.

Meanwhile, the Reserve Bank of India maintained status quo on policy rates for the fifth time in a row.

The central bank kept its key policy repo rate unchanged at 4 per cent, but warned that the recent surge in COVID-19 infections has created uncertainty over economic growth recovery.