The Indian rupee opened at 83.78 against the U.S. dollar on Monday, hitting a lifetime low due to recession worries and potential foreign outflows.
The rupee's drop to 83.78 from 83.75, surpassing the previous low of 83.7525, reflects investor concerns following poor U.S. job data.
The decline is driven by fears that the disappointing U.S. jobs report could lead to foreign funds exiting India and other emerging markets.
Selloffs in U.S. and Asian equities have intensified concerns, adding pressure on the Indian rupee and leading to further depreciation fears.