Rupee hits new low against US dollar as Asian peers tumble on Fed rate view

The Indian rupee dropped to a record low versus the U.S. dollar on Thursday, as Asian currencies declined on concerns over the pace and quantum of U.S. Federal Reserve's policy tightening ahead.
 

The rupee closed at a record low of 80.86 to the dollar, down from 79.9750 in the previous session.
 

It was the biggest single-day fall for the local unit since Feb. 24.
 

Traders that Reuters spoke to, were unable to confirm whether the Reserve Bank of India intervened in the spot market during the session.
 

Some traders said RBI may have stepped in to arrest the rupee's decline,