The rupee declined 15 paise to close at an all-time low of Rs 88.27 (provisional) against the US dollar on Friday amid sustained outflow of foreign funds and fear of additional US tariffs against India.

A weak greenback and falling crude oil prices failed to prevent the fall in local unit, forex traders said.

At the interbank foreign exchange, the rupee opened at 88.11 against the US dollar and touched the lowest-ever intra-day level of 88.38 before ending the session at a fresh all-time low closing mark of 88.27 (provisional), down 15 paise from its previous close.