The rupee declined 5paise to hit an all-time low of 83.71 against the US dollar on Tuesday after the government raised tax rates on capital gains in the FY25 Budget.Besides, a weak tone in the US dollar and weakness in crude oil prices also put pressure on the domestic unit, forex traders said.

At the interbank foreign exchange market, the local unit opened at 83.64 and touched an intraday high of 83.61 and touched an all-time intraday low of 83.71 against the dollar during the trading session.