On Wednesday, Indian rupee dropped to a record low due to the sharp rise in the prices of crude oil globally and made the central bank to quickly interfere to slow its fall.
The Indian currency dropped 34 paise to 73.25 agianst the US dollar for the first time ever.
In the previous close it was 72.91 and the Indian markets were closed on Tuesday for the holiday. On Wednesday, the rupee opened at a lower 73.25 and weakened further to 73. 34 a dollar.
The crude oil prices were trading at 85 dollars per barrel from their last close.
However, the petrol price remained at Rs. 83.85 and the diesel price at Rs. 75.25 per litre in the National capital. In Mumbai, the petrol is sold at Rs. 91.20 per litre and diesel is sold at Rs. 79.89 per litre.
Meanwhile, in the opening trade on Wednesday the BSE benchmark Sensex dropped by 137.62 points , or 0.38 percent to 36,388.52.