The Indian rupee plunged to a fresh record low of just over 71 to a US dollar during the morning trade session on Friday. Around 10 a.m. the Indian rupee was pegged at 70.97-98 to a US dollar after it touched 71 to a US dollar -- the lowest ever mark -- against the greenback.

It opened the day's trade at the Inter-Bank Foreign Exchange Market at over 70.90 to a USD which was even below its record low of 70.85 to a greenback.