The Indian rupee has hit a record low of 22.784 against the UAE dirham or 83.6188 against the US dollar.
The currency weakened past its last low of 22.732 against the Emirati dirham. Earlier today, at the interbank foreign exchange market, the local unit opened at 22.732 and lost further to 22.746 against the dirham, registering a fall of 4 paise from its previous close.
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The fall comes due to the firm American currency and an upward trend in crude oil prices overseas. The Indian rupee resisted the fall amid the unabated inflow of foreign capital but gave in to the pressure due to a muted trend in the domestic equity markets, forex traders said.