The rupee declined 14 paise and touched the crucial 86.00-mark (provisional) for the first time against the US dollar on Friday as it failed to resist pressure from a stronger American currency and huge outflow of foreign funds.

According to analysts, subdued domestic equity markets also weighed on the Indian currency even as better growth prospect in the US economy fuelled the expectations of delayed interest rate cut by the Federal Reserve,

At the interbank foreign exchange, the rupee opened at 85.77, slipped to 85.80 before trading again at 85.75 against the greenback in initial deals.

The rupee extended its slide for the second straight session and declined 13 paise to hit a fresh record low of 85.87 (provisional) against the US dollar on Wednesday amid higher crude oil prices and stronger American currency.

Mumbai: The rupee depreciated 9 paise to hit its record low of 85.83 against the US dollar in early trade on Wednesday as strengthening American currency and higher crude oil prices continued to play spoilsports even as the government lowered the country’s economic growth projection.

On Wednesday, the local unit plunged 17 paise to settle at its all-time low closing level of 85.91 against the American currency

At the interbank foreign exchange, the rupee opened at 85.82 and touched the lowest-ever level of 85.89 against the greenback during intra-day. The unit settled at 85.87 (provisional) against the dollar,