The Indian rupee fell to an all-time low on Thursday, pressured by a lingering depreciation bias and heightened demand for the U.S. dollar in the non-deliverable forwards (NDF) market, while the central bank's intervention helped prevent sharp losses.

Rupee hit a record low of 84.80 in early trading, surpassing its previous all-time low of 84.7575 hit last week.

The Indian rupee weakened to its all-time low on Wednesday, pressured by heightened dollar bids in the non-deliverable forwards market, while likely intervention by the Reserve Bank of India helped limit losses,