The rupee hit another all-time low of 54.85 per dollar in the late morning trade today losing 38 paise on fresh demand for the American currency from banks and importers.

The rupee resumed lower at 54.60/61 per dollar at the Interbank Foreign Exchange (Forex) market against the last closing level of 54.47/48.

The domestic unit dropped to 54.82/83, before trading at a fresh all-time low to 54.85/86 at 11.00 am.