Rupee drops to new low of 56.12/dollar

The rupee opened weaker on Thursday and fell to a new record low almost immediately on global risk aversion, with traders waiting for the impact of India's petrol price hike on domestic equities for further direction.
At 9:05 a.m., the partially convertible rupee was at 56.12/13 per dollar, after hitting a record low of 56.24 in initial trade. It had closed Wednesday at 55.9950/56.0050.