Time to remit: India rupee at a record low against US dollar, UAE dirham

Time to remit: India rupee at a record low against US dollar, UAE dirham

Dubai: The Indian rupee continued to stay weak this week, with the currency's depreciation seen impacting the economy and various segments such as fuel prices, while pushing up inflation. Against the UAE dirham, the value of the Indian rupee was at Rs21.19 on Thursday, dropping from prior session's 21.05. The last time the currency hit the current low was on May 22 at Rs21.19. Check . The Indian rupee held steady at 21.15 to the dirham early on Wednesday (June 8) after the Reserve Bank of India raised interest rate by 0.5 per cent. This is the second hike by the central bank since May. . The Indian rupee hit a record low against the US dollar on Thursday as the relentless surge in global crude oil prices raised concerns of a sustained rise in imported inflation, while weakness in domestic shares also hurt. Weakness in the rupee's value against the US dollar will be automatically reflected in its exchange rate with the UAE dirham as the UAE currency is pegged to the dollar. The partially convertible rupee was trading at 77.78/79 per dollar after touching a record low of 77.81. The previous life low of 77.7975 was touched on