The rupee on Monday plunged to 49-mark, its lowest closing level in eight years, against the American currency on fresh dollar demand from bank amid a surge in stock markets in Asia and Europe. The local unit also drew support from a remarkable surge in stocks across Asian and Europe.
The benchmark Sensex rose by over 450 points at mid-session but pared some loses to end the day higher by 248 points or 2.48 per cent. Asian indices also ended up by about 2.0 to 5.0 per cent.