MUMBAI, Nov 10 (Reuters) - The Indian rupee dropped to a record low against the U.S. dollar on Friday, which alongside the outage of the interbank order matching system, prompted the central bank to step in.
The rupee dropped to a record low of 83.42 to the dollar and was last at 83.3925.
"On why the RBI today decided that (allow rupee to drop below 83.30), it's impossible to say," a forex trader at a bank said.
Next week will be very important to see if a new range has been made."
He, however, said that the range in the USD/INR has now shifted higher.
Alok Sharma, Arnob Biswas, Nimesh Vora, Sonia Cheema
U.S, Reserve Bank of India, SMC Global Securities, Thomson