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Mumbai: The rupee continued its decline on Monday, declining by 27 paise to hit a new lifetime low of 86.31 against the US dollar, marking the second consecutive session of losses. 

According to forex traders, a record surge in crude oil prices, sustained outflow of foreign capital, and a negative trend in domestic equity markets also kept the Indian currency under pressure.The dollar strengthened on better-than-expected job growth in the US market, which also fuelled the benchmark treasury yields amid expectations of slower interest rate cut by the Federal Reserve.