Mumbai (PTI): The rupee depreciated 8 paise to close at 88.79 against the US dollar on Friday, near its all-time low level, on dollar demand from importers and persistent foreign fund outflows.

Forex traders said the USD/INR pair is hovering around its all-time low level, weighed down by trade tensions and global uncertainties.

Moreover, persistent foreign fund outflows and the ongoing US visa fee hike issue also dragged down the domestic unit.

At the interbank foreign exchange, the rupee opened at 88.68 against the US dollar and touched an intraday low of 88.85 and finally settled for the day at 88.790, lower by 8 paise from its previous close.

On Wednesday, the rupee recovered 9 paise from its all-time closing low to settle at 88.71 against US dollar.

On Thursday, equity, forex, bu

See Full Page