The Indian rupee settled at a record closing low for a third consecutive session on Thursday, pressured by a firm dollar and importers' month-end dollar demand. The rupee ended at 85.2625 to the dollar,

The Indian rupee stayed weak for the third consecutive session, plunging by 12 paise to close at an unprecedented low of 85.27 (provisional) against the US dollar on Thursday. Mounting pressure from a robust American currency and escalating crude oil prices further battered the currency’s performance.

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.