The Indian rupee is likely to hold near lifetime low on Wednesday after U.S. Treasury yields climbed to a three-month high with eyes on the presidential election, helping the dollar extend its rally.

MUMBAI: The Indian rupee slipped to an all-time low on Tuesday, pressured by weakness in its regional peers and likely outflows from local equities, although the Reserve Bank of India’s intervention helped curb sharp declines, traders said.

The Indian rupee was nearly unchanged on Monday as pressure on account of outflows was blunted by dollar offers from state-run banks, with traders expecting the Reserve Bank of India (RBI) to defend the currency against sharp declines.

MUMBAI: The Indian rupee is likely to hold near lifetime low on Wednesday after US Treasury yields climbed to a three-month high with eyes on the presidential election, helping the dollar extend its rally.

The rupee slipped to an all-time low on Tuesday, pressured by weakness in its regional peers and likely outflows from local equities, although the Reserve Bank of India's intervention helped curb sharp declines,

The Indian rupee held its ground on Wednesday, supported by mild dollar sales by state-run banks that also blunted the impact of rising U.S. bond yields, which dragged the local currency's regional peers lower.