Bengaluru: After weeks of sticking to a tight range, the India rupee's has once again dropped below 20 to one dirham. It did so in the currency markets on Friday (February 26) afternoon, and should provide some cheer to NRIs as they make plans on their next remittances. (It's 73.70 for one dollar.) Early on Friday, trade in the currency markets had the rupee pegged at 19.90. (In dollar terms, the Friday rate was at Rs73.10 for a dollar.) It was on April 22 last year that the rupee dropped to a record low of 76.90, hit by heavy foreign fund outflows from the Indian stock markets and as the global economy was grappling with the COVID-19 outbreak. Fears that the Indian economy is heading into an unprecedented contraction speeded up the outflows.