Indian Rupee Trades At Record Low Against US Dollar

By Shakir Husain NEW DELHI, Sept 22 (Bernama) -- The Indian rupee on Thursday traded at a record low against the American dollar as the US Federal Reserve's interest hike on Wednesday further strengthened the greenback. One US dollar bought around 80.60 rupees on Thursday. The Indian currency has been trading below the psychological level of 80 versus the greenback in recent days. The rupee has drawn strength from the central bank's interventions, which held US$550 billion in foreign exchange reserves as on September 9. The Reserve Bank of India (RBI) has seen a drop of US$30 billion in its reserves since July. At their peak in October last year, the RBI's reserves totalled US$642 billion. -- BERNAMA