The Indian rupee will extend its steady decline against a strong U.S. dollar amid heightened market expectations of a Reserve Bank of India interest rate cut next month, a Reuters poll of foreign exchange strategists found.

Explore why the USD/INR pair has soared to a record high and what to expect in the next few weeks as the RBI and Fed divergence remains

The rupee depreciated 9 paise to hit its record low of 85.83 against the US dollar in early trade on Wednesday as strengthening American currency and higher crude oil prices continued to play spoilsports even as the government lowered the country's economic growth projection.