Indian rupee declines to all-time low on heavy dollar demand

MUMBAI, Sept. 5 (Reuters) - Pressured by dollar demand from importers to meet their immediate and futures payments, the Indian rupee fell to a record low of 83.9850 to the U.S. dollar on Thursday, clawing past the previous lowest level of 83.98. The rupee's losses would have been much greater had the central bank not intervened, traders said, as the rupee's decline to an all-time low coincided with the dollar's weakness on dovish Federal Reserve bets.

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