The Indian rupee may open near its all-time low on Tuesday and continue to trade with a mild depreciation bias, pressured by a rise in U.S. bond yields, with traders expecting the domestic central bank to intervene to keep a lid on sharp declines.

The Indian Rupee has hit a record low, plummeting to 85.12 against the US dollar. This is the fifth trading session in a row where the rupee has hit a new record low, beating Friday's previous record of 85.

The Indian rupee weakened to its all-time low for the sixth consecutive trading session on Tuesday as a rise in U.S. bond yields boosted the dollar and strong demand for the greenback from importers added to the lingering pressure on the local currency.

The Indian rupee dropped to its lifetime low on Tuesday, hurt by persistent dollar demand from importers and a rise in U.S. bond yields which boosted the dollar. The rupee hit a low of 85.1625 against the U.