The rising dollar will also hurt Indian students studying overseas as the depreciation comes at a time when families remit funds for a new academic year.
The RBI is suspected to have sold dollars through state-run banks at around the 69.09 rupee level, traders said.
Another major factor weighing down the rupee is the ongoing trade turmoil between the world's two largest economies, the U.S. and China, which continues to roil forex market sentiments.
The Indian currency had touched its previous record low of 68.8650 per dollar on November 24, 2016.
The Indian currency has lost around eight per cent his year as foreign investors were pulling out funds from India and crude oil prices moved upwards.
Brokers said market sentiment was fragile following the rupee hitting a new low of 69.10 against the dollar amid rising crude oil rates.
Things have gone from bad to worse for the rupee, Indonesian rupiah and Philippine peso after the benchmark 10-year U.S. Treasury yield posted its first weekly close above the 3 percent threshold in almost seven years, a Reuters forex analyst wrote.
With crude oil prices screaming higher this week on the back of a big draw in U.S. inventories, supply disruptions in Canada and calls from the United States for its allies to stop importing Iranian crude as a part of new sanctions slapped on the country, it's clearly taken its toll on the rupee.
A senior Indian finance ministry official, who declined to be identified as he is not authorised to speak to media, said the government and the central bank were closely monitoring and there was no need to panic.
The rupee collapsed to an all-time low of 69.10 against the USA dollar on Thursday morning as rising crude oil prices triggered worries about the further rise in the current account deficit and inflation.
The RBI's battle to contain a falling rupee just got tougher.
"Weakening at this pace shatters confidence". Markets expect RBI to manage the currency more effectively.
Patel said the subsequent decline in USD liquidity meant a "crisis" in global bond markets denominated in USA dollars will become "inevitable".
Oil prices have been rallying for much of 2018 on tightening market conditions due to record demand and voluntary supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC).
In March quarter, the CAD accounted for 1.9 per cent of GDP against 0.4 per cent in the same quarter of 2016-17.
The withdrawals have helped made the rupee the worst performer in Asia. To begin with, a depreciating rupee could put inflationary pressure on the economy. The US government is committed to using the fiscal levers to keep it that way. According to rating agency Moody's India is among the countries that are least vulnerable to currency pressures due to its low dependence on external debt.
That sentiment was seconded by NASA Administrator Jim Bridenstine in a statement. "Mission success is the top priority", he said. These are just some of the "seemingly small" mistakes that could and should have been avoided, the board said.
She told the Daily Mirror : "I'll be waiting for Adam on the outside". "I'm backing him a little bit, I'll admit". I'm sure you're all wondering why I'm here. "The public have been voting for their favourite couple".
Optimism is high amongst Three Lions fans, particularly following a record-breaking 6-1 thumping of Panama on Sunday. Wenger told BeIN SPORTS: 'He's not a real defender and especially not a central defender.
The skipper Virat Kohli promoted Suresh Raina , Ms Dhoni and Hardik Pandya at No.3, No.4 and No.5 respectively. A busy period of T20 internationals sees 13 matches being played around the world over the next two weeks.
Defending champion Roger Federer and Rafael Nadal headline the Wimbledon seedings while British No 1 Kyle Edmund is seeded 22nd. Nadal will play two matches at the Hurlingham Club this week which will be his only warm-up games before the Wimbledon .
A staggering eight changes, i has been told, are expected to the XI playing the Group G decider this evening. The fact only five survivors remain from the 2014 edition in Brazil only underlines Southgate's point.
Together, Conagra and Pinnacle would form a food company with pro forma annual net sales of about $11 billion. Pinnacle shares were down almost 3 per cent and Conagra's stock was up marginally in premarket trading.
Erdogan’s triumph takes Turkey into the era of one-man rule
Videos posted on social media appeared to show people voting in bulk at a ballot box in the town of Suruc in Sanliurfa province. He asked all Turks to be vigilant at polls and not be "demoralized" by what he called the possible manipulation of news.
'Strange match' awaits England and Belgium
The only issue at stake for England against Belgium is whether they finish first or second in Group G . This will be the fourth meeting of the two nations in major tournaments.
Korea Knocks out Germany in 2-0 Upset
Despite the disappointing loss, Germany does have a team to build around. "We weren't at the level you need for a World Cup". South Korea started the tournament with a 1-0 loss to Sweden at Nizhny Novgorod Stadium in Nizhny Novgorod on June 18.