Mumbai: The rupee depreciated 31 paise to an all-time low of 80.15 against the US dollar in early trade on Monday tracking the strength of the American currency and firm crude oil prices.
At the interbank foreign exchange, the rupee opened at 80.10 against the dollar, then lost ground to quote at 80.15, registering a fall of 31 paise from the last close.
The rupee weakened to a low of 80.14 per US dollar in the first few minutes of trade on Monday as the US dollar index strengthened well past the 109 mark.
The previous lifetime low for the rupee was 80.06 per dollar on July 19.
Forex traders said the dollar index gained after Federal Reserve Chair Jerome Powell adopted a hawkish tone to battling inflation.
According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, the rupee opened on a weak note after a hawkish Powell kept U.S. rate hikes in prominence until inflation falls to 2%.
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