The Indian rupee settled at a record closing low for a third consecutive session on Thursday, pressured by a firm dollar and importers' month-end dollar demand. The rupee ended at 85.2625 to the dollar,

Rupee hits all-time low against US dollar due to strong greenback, rising crude oil prices, and dollar demand.

At the interbank foreign exchange, the rupee opened weak at 85.23 and slipped further to hit a life-time low of 85.25 against the greenback in initial deals, registering a loss of 10 paise against its previous closing level.

The Indian rupee is likely to hold near its all-time lows on Thursday, amid a dollar that remains well supported by expectations that the Federal Reserve will cut rates at a measured pace next year.