Mumbai, Jan 23: The Indian rupee slipped to a fresh all-time low against the US dollar on Friday (January 23), pressured by strong dollar demand from corporates and importers, despite some improvement in global risk sentiment.

The domestic currency breached its previous record low of 91.74 and touched an intraday low of 92.00 before recovering slightly. Early gains proved short-lived as sustained demand for the greenback outweighed supportive global cues.

The rupee ultimately settled at a record closing low of 91.88 (provisional), down 30 paise from its previous close, amid persistent foreign fund outflows and risk-off sentiment in global markets.

Forex traders said the rupee erased early gains and weakened sharply due to weak domestic equities, continued selling by foreign investors, rising crude oil prices, and a surge in US Treasury yields.

In the interbank foreign exchange market, the rupee opened at 91.45 and strengthened to an intraday high of 91.41 before reversing course. It later hit an all-time low of 92.00 and recovered marginally to close at 91.88 against the American currency.

On Thursday, the rupee had rebounded from record low levels, ending 7 paise higher at 91.58 against the US dollar.