The Indian rupee today dropped further by 89 paise to hit new record low of 65 against the U.S. dollar in early trade on the Interbank Foreign Exchange market on heavy demand for the U.S. currency from banks and importers during a weak opening in the domestic equity market.%% Besides, dollar's strength against major currencies overseas after the Federal Reserve's minutes of its last policy meeting released yesterday indicated the central bank was committed to scaling back its asset-buying programme weighed on the domestic currency, sources said.%% The dollar gained across the board, rising closer to 81.50. Conversely, the euro-dollar slipped to 1.33 levels.%% Haresh Soni, Chairman, All India Gems and Jewellery Trade Federation (GJF) expressed, “At this rate the jewellery industry will be affected very adversely due to disparity in international and domestic rates. The disparity has increased due to fall of rupee which has increased the cost of gold and it also has the additional burden of import duty and VAT." %% “Buying capacity of the customer has decreased tremendously. During this time in the earlier years we used to witness a good flow of NRI Customers, which is completely absent this year. Volatility in rupee vis-a-vis USD continues to hamper the growth of the industry,” he further added.%%