Guwahati: As Foreign Institutional Investors (FII) continued to sell, the rupee fell 11 paise to a record low of Rs 78.96 against the US dollar.

At the interbank foreign exchange, the rupee opened at 78.86 against the US dollar, then fell to 78.96, its all-time low, representing an 11-paise drop from the previous close.

The rupee fell 48 paise to a record low of 78.85 against the US dollar on Tuesday.

The rupee has lost 1.87 percent so far this month and 6.28 percent since the beginning of the year.

The exit of foreign portfolio investors, the rising cost of international crude oil prices, and a strong dollar have all weighed on the Indian rupee.