The rupee fell 5 paise to an all-time low of 84.37 against the US dollar in early trade on Friday, weighed down by persistent foreign fund outflows and a muted trend in domestic equities.
Forex traders said the US Federal Reserve's recent decision to cut interest rates signals a shift in the global financial landscape. Moreover, with Donald Trump's tax and trade policies influencing global markets, volatility could re-enter the rupee's trajectory.
At the interbank foreign exchange, the rupee opened at 84.32 against the greenback, then it fell further to an all-time low of 84.37, registering a rise of 5 paise over its previous close. On Thursday, the rupee slipped 1 paisa to close at a fresh lifetime low of 84.32 against the US dollar.