The rupee depreciated by 17 paise to close at an all-time low of 90.49 against the US dollar on Friday, as uncertainty over the India-US trade deal and persistent foreign fund outflows dented investor sentiment.
Forex traders said the rupee is under pressure, largely due to aggressive dollar purchases by importers amid surging global precious metal prices.
At the interbank foreign exchange, the rupee opened at 90.43 against the US dollar, then fell further to a record intraday low of 90.56 against the greenback, registering a fall of 24 paise from its previous close.
The unit settled the day at 90.49 against the US dollar, down 17 paise over its last close.
On Thursday, the rupee had plunged 38 paise to close at an all-time low of 90.32 against the US dollar.
The rupee is expected to trade with a negative bias as the delay in the trade deal between India and the US may weigh on the domestic unit.
India and the US on Thursday concluded two days of talks, during which both sides exchanged views on trade-related issues, including the ongoing negotiations for a mutually beneficial bilateral trade agreement. -- PTI