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The rupee depreciated 31 paise to an all-time low of 80.15 against the US dollar in early trade on Monday, 29 August, tracking the strength of the American currency and firm crude oil prices.
At the interbank foreign exchange, the rupee opened at 80.10 against the dollar, then lost ground to quote at 80.15, registering a fall of 31 paise from the last close.
On Friday, the rupee closed at 79.84 against the dollar.
Forex traders said the dollar index gained after Federal Reserve Chair Jerome Powell adopted a hawkish tone to battling inflation.
According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, the rupee opened on a weak note after a hawkish Powell kept US rate hikes in prominence until inflation falls to 2 percent.
Global oil benchmark Brent crude futures advanced 0.86 percent to USD 101.86 per barrel.
On the domestic equity market front, the 30-share Sensex was trading 966.68 points or 1.64 percent lower at 57,867.19, while the broader NSE Nifty fell 283.90 points or 1.62 percent to 17,275.00.
Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs 51.12 crore, as per stock exchange data.
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