Rupee drops to record low of Rs 62.45 per dollar

The rupee dropped to a record low of 62 rupees 45 paise per dollar in late morning trade today on persistent demand for the US currency from banks and importers. A firm US currency in the overseas market also affected the rupee against the dollar.

Earlier, the rupee resumed lower at 62 rupees 30 paise per dollar as against the last weekend’s level of 61 rupees 65 paise at the forex market.