New Delhi, May 15 -- The Indian rupee opened 11 paise weaker at 95.87 against the US dollar on Friday, 15 May, as rising US Treasury yields strengthened the dollar and added to pressure from elevated crude oil prices.

The currency has now fallen to fresh record lows for three consecutive sessions, declining around 1.36% this week. Bankers said the pace of depreciation has likely been moderated by the Reserve Bank of India's intervention.

The rupee hit an unprecedented intraday low of 95.9575 per dollar on Thursday before recovering slightly. Recent indications of potential measures to draw in dollar inflows and alleviate pressure on the currency provided only temporary support, as the rupee quickly resumed its downward trend thereafter....