At the interbank foreign exchange, the rupee opened at 86.12, and moved 1 paisa during intraday to 86.11 before closing the session with a loss of a staggering 58 paise at its lowest-ever level of 86.

The Indian rupee strengthened for the second day, closing at 86.40 against the US dollar, driven by positive domestic equities and softening crude oil prices.

Rupee hit a record low, crossing 86 against the US dollar on Monday, following stronger-than-expected US job data. The report hinted that the Federal Reserve might not reduce interest rates significantly this year,

Rupee crashes 27 paise to hit record low of 86.31 against US dollar in early trade The rupee's slide show went on for the second straight session on Monday as it crashed 27 paise to hit a new lifetime low of 86.

The rupee edged down 2 paise to 86.55 against the US dollar in early trade on Wednesday as the positive sentiment in the domestic equity markets was negated by elevated crude oil prices and massive foreign fund withdrawal.