The Indian rupee slipped to its all-time low on Friday as the dollar stood firm ahead of closely watched U.S. labour market data, keeping regional currencies on the defensive.

MUMBAI: The rupee sank closer to the 86 level, recording its tenth consecutive week of decline against the dollar. The local currency closed at 85.97 against the greenback, down 12 paise from Thursdays' close of 85.

India's foreign exchange reserves fell for the fifth consecutive week to a 10-month low of $634.59 billion as of Jan. 3, data from the Reserve Bank of India (RBI) showed on Friday. The reserves declined by $5.

India’s foreign exchange reserves fell to a 10-month low amid persistent rupee decline and economic volatility, as the rupee hit a historic low of 86.04.

India's forex reserves hit 10-month low to $634.5 billion after rupee falls to record low of 86.04 against US dollar