Rupee to Dollar: Indian Rupee hits Record Low

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The Indian rupee was close to record lows, at 77.24 for the US dollar

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The rupee dropped on Monday by 54 paise, closing at the lowest level in the range of 77.44 in relation to the US dollar

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Three reasons Rupee is sliding against Dollar are:

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1.The rising prices for crude oil

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2.The rise in domestic inflation

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3.Reserve Bank of Indian's (RBI) higher band

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The prices of crude have increased for a month now, which makes the rupee even weaker

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