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 Indian Rupee has hit a record low, plummeting to 85.12 against the US dollar. This is the fifth trading session in a row where the rupee has hit a new record low, beating Friday's previous record of 85.

The Indian rupee saw a modest recovery on December 20, appreciating by 6 paise to open at Rs 85.07 against the US dollar in early trade. This comes after it hit an all-time low of Rs 85.13 the previous day,

The local currency had settled at 85.02 per dollar after choppy trading on Friday, touching 85.11 per dollar before regaining ground against the greenback on the back of FTSE rebalancing inflows

The rupee saw some recovery from its all-time low level and settled 9 paise higher at 85.04 against the US dollar.