The Indian rupee hit another record low Friday, slipping below the psychological resistance level of 62 against a dollar for the first time, on the back of a huge selling pressure in the stock markets leading to high demands for the American currency.
The partially convertible rupee slipped to a new record low of 62.03 against the dollar at inter-bank foreign exchange market here, surpassing its previous record low of 61.80 hit on Aug 6.
The rupee was quoted at 61.67 at 12.40 pm Indian time against its Wednesday's close at 61.43. The markets were closed Thursday due to the Independence Day celebrations.
