The Indian rupee dropped to a lifetime low versus the U.S. dollar at open on Thursday, bogged down by higher U.S. Treasury yields and the dip in most Asian peers. The rupee was quoting at 85.2400 to the U.

The Indian rupee has witnessed a record fall against the US dollar, hitting an all-time low of 85.21 on Tuesday. This is the six straight session of decline for the currency. The fall is due to rising US bond yields and strong dollar demand from importers.

At the interbank foreign exchange, the rupee opened weak at 85.23 and slipped further to hit a life-time low of 85.25 against the greenback in initial deals, registering a loss of 10 paise against its previous closing level.

The Indian central bank was likely selling dollars to limit the rupee's losses after it hit a record low on Tuesday on higher U.S. bond yields and dollar demand from local oil companies.

Like any other trade in life, the relative value of one currency against another depends on which is demanded more. If Indians demand more US dollar than Americans demand the Indian rupee, the exchang

The Indian rupee fell to an all-time low of 85.24 against the US dollar due to rising US Treasury yields and a decrease in Asian currencies. Despite potential support from India's strong economic growth,