MUMBAI: The rupee depreciated 7 paise from its all-time closing low to 88.80 against US dollar in early trade on Wednesday dragged down by tariff and H-1B visa issues amid persistent foreign fund outflows.

Forex traders said rupee is hovering near its all-time low level as enhanced US tariffs on Indian goods as well as US H-1B visa fee hike dented investor sentiments.

Moreover, investors' risk-aversion and trade policy uncertainty has also exacerbated the rupee’s depreciation.

At the interbank foreign exchange, the rupee opened at 88.80, registering a decline of 7 paise over its previous close. In initial trade the rupee also touched 88.71 against the greenback.

On Tuesday, the rupee depreciated 45 paise to close at a fresh all-time low of 88.73 against the US dollar. It had touched a

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