Rupee consolidated in a narrow range and settled for the day lower by 7 paise at its all-time closing low of 88.79 (provisional) against US dollar on Monday, on persistent foreign capital outflows and rise in risk-off sentiments.

Forex traders said rupee is hovering near its all-time low level as investors remained concerned over global trade uncertainties and impact of US visa fee hike on India's IT services exports.

Moreover, the Reserve Bank of India (RBI) policy meeting outcome on October 1 , is expected to influence rupee and government bond movements.

At the interbank foreign exchange, the rupee opened at 88.69 against the US dollar, and finally settled for the day with a loss of 7 paise at 88.79 (provisional), its lowest-ever closing level so far.

On Friday, the rupee rebou

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