Rupee breaches 62 to hit record low against dollar

The rupee dropped to a historic low of 62.00 per dollar in late morning trade on Friday.

The rupee surpassed the previous all-time low of 61.80 hit just last week and traded nearly 1 per cent lower from Wednesday's close of 61.43.

The partially convertible rupee was trading at 61.87/89 per dollar at 10.26 a.m., after hitting a record low of 62.03.

Meanwhile, market expert Akash Jindal requested government to take urgent action.

"Economy's condition is getting worse. I think if we do not take urgent steps, we might head to stagnation. I request government to immediately take action than having deliberate discussions," he said.