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 rupee is likely to hold near its all-time lows on Thursday, amid a dollar that remains well supported by expectations that the Federal Reserve will cut rates at a measured pace next year.

The rupee experienced its sharpest single-day drop in six months, plunging 53 paise to reach an all-time intraday low of 85.80 against the US dollar during Friday's mid-session. The sharp decline was driven by the ongoing rise in US bond yields,

The rupee depreciated 10 paise to hit a new all-time low of 85.25 against the US dollar in early trade on Thursday, dragged down by the unabated outflow of foreign capital amid increased month-end demand for the American currency.