Rupee drops to record low of 79.62 against US dollar

Crude oil prices trading near USD 100 per barrel level, however, supported the local unit, forex dealers said.

Rupee drops to record low of 79.62 against US dollar

The rupee depreciated by 3 paise to close at a record low of 79.62 (provisional) against the US currency on Wednesday following a firm dollar in overseas markets and losses in the domestic stock markets.

Crude oil prices trading near USD 100 per barrel level, however, supported the local unit, forex dealers said.