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Indian Rupee drops 51 paise to an all-time low of 80.47 against US dollar

The rupee dropped 22 paise on Wednesday, ending the day at 79.96 against the dollar.

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The US Federal Reserve's interest rate hike and its hawkish posture weighed on market sentiment, which caused the rupee to fall 51 paise to a low record of 80.47 against the US dollar in early trade on Thursday.

The local currency was trading at 80.47 versus the dollar at the interbank foreign exchange, down 51 paise from its earlier estimate. Initial trades saw the rupee drop to a record low of 80.47 to the dollar.

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