New Delhi, September 23 (Udaipur Kiran News): The Indian rupee slipped to its all-time low against the US dollar on Monday amid persistent foreign investor outflows and protectionist measures by the United States.

At 11:30 am, the rupee was trading at 88.69 per dollar, down 38 paise from the previous close of 88.31. During intra-day trade, it touched a lifetime low of 88.71 before recovering slightly.

The session opened weak at 88.41, 10 paise lower than Friday’s close, and briefly strengthened to 88.40. However, negative market sentiment soon pushed the currency further down.

The rupee also weakened against other major currencies. By mid-session, it stood at 119.82 against the British pound, down 59 paise, and at 104.65 against the euro, a drop of 66 paise.

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Ravi Chander Khurana, CEO of Khurana Securities & Financial Services, said US protectionist policies were putting pressure on the Indian currency. “The US has imposed higher tariffs on Indian exports compared to other Asian nations, while also raising H-1B visa application fees. This has increased export costs and directly impacted the IT sector,” he noted.