The Indian rupee slipped further to hit a record low level on Monday amid surging international crude oil prices and foreign fund outflows. Foreign institutional investors sold equities worth Rs 3,795.72 crore on a net basis on Friday, according to exchange data. Moreover, investors are adopting a cautious stance amid ongoing trade tensions with the US, with expectations of a settlement towards the end of the year. However, positive cues from equities and weakness in greenback could limit sharper losses in the counter. At the interbank foreign exchange market, the rupee opened at 89.45. It slipped further to trade at a low of 89.79 against the greenback so far during the day. On Friday, the rupee dropped nine paise to settle at 89.45 against the US dollar.

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