PTI mumbai

The rupee depreciated just 1 paisa to close at an all-time low of 88.10 against the US dollar on Monday amid Indo-US trade deal uncertainties and higher dollar demand from importers.

Forex traders said the rupee opened on a weaker note this morning and revisited its all-time intra-day low of 88.33 against the American currency, weighed down by persistent foreign fund outflows. At the interbank foreign exchange market, the rupee opened at 88.18 against the US dollar, then lost ground and fell to an all-time intra-day low of 88.33, as additional trade tariffs on India by the US raised concerns over India's trade deficit.

The domestic unit finally settled at an all-time closing low of 88.10 against the greenback, registering a fall of just 1 paisa over its previous close. On Friday, the rupee breached the 88 per US dollar mark for the first time and closed at an all-time low of 88.09. During intra-day trade, it had touched an all-time intra-day low of 88.33. 

The rupee recovered from an all-time intraday low on Monday due to the strength in domestic markets, Anuj Chaudhary, Research Analyst, Currency and Commodities, Mirae Asset ShareKhan. Meanwhile, the dollar index, fell 0.14% to 97.63, supporting the rupee at lower levels.