Rupee nears record low, hits 59.90 against dollar

The Indian rupee dropped sharply against the dollar in early trade on Wednesday. The partially convertible rupee traded at 59.89 against Tuesday's close at 59.66/67 per dollar. The rupee had earlier hit a low of 59.90, which is close to the record low of 59.98 the Indian currency printed last week. "There is no reason to believe that the dollar/rupee has topped out. If the pair closes below 59.30 for a couple of sessions cons...