Indian rupee drops to record low, tracking Asian peers

The rupee dropped to a lifetime low of 83.3050 to the dollar, down from 83.2800 in the previous session. The previous lifetime low was 83.2950.

Representative image. Source: Reuters

The Indian rupee dropped to a record low against the U.S. dollar on Friday on the back of weakness in Asian peers, prompted by the rise in U.S. yields.

The rupee dropped to a lifetime low of 83.3050 to the dollar, down from 83.2800 in the previous session. The previous lifetime low was 83.2950.

"We will have to see how much follow-through is there," a trader at a bank said. "Today is Friday, which makes the price action from here all the more important."

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