The Indian rupee dropped to a lifetime low versus the U.S. dollar at open on Thursday, bogged down by higher U.S. Treasury yields and the dip in most Asian peers. The rupee was quoting at 85.2400 to the U.

Like any other trade in life, the relative value of one currency against another depends on which is demanded more. If Indians demand more US dollar than Americans demand the Indian rupee, the exchang

The rupee depreciated 10 paise to hit a new all-time low of 85.25 against the US dollar in early trade on Thursday, dragged down by the unabated outflow of foreign capital amid increased month-end demand for the American currency.

The Indian rupee is likely to hold near its all-time lows on Thursday, amid a dollar that remains well supported by expectations that the Federal Reserve will cut rates at a measured pace next year.