The Indian rupee dropped to a record low versus the dollar on Friday, on concerns over the pace of Federal Reserve rate hikes and that U.S. rates were likely to remain high for longer.

The rupee finished at 82.32 per U.S. dollar, down from 81.88 in the previous session. The rupee opened at 82.20 and reached a record low of 82.4250 in the session.

The Reserve Bank of India likely intervened yet again to slow the pace of rupee's decline, three traders told Reuters.

The rupee has declined 1.2% this week, notching its fourth weekly loss.

The local currency has witnessed a swift decline after slipping past the 80 level, tumbling about 3.5% over the last one month, with more losses likely in store.

"We expect the currency to remain under pressure in the near term in light of the J.P. Morgan index (inclusion delay), oil rally and broad dollar-strengthening trend," said Gautam Kumar, head of financial products at Kristal.AI, a Singapore-based digital private wealth management platform.

"Demand for the dollar continues as oil companies and defence and importers continue to buy," said Anil Bhansali, head treasury at Finrex Treasury Advisors.

"Fed officials are still hawkish, euro susceptible to more falls, Asian currencies weak, oil up ... all negative for the rupee."

The rupee is now down almost 11% so far in 2022, headed for its worst annual performance since 2013.

The widening of spreads between the rupee and onshore forward rates boosted demand for the dollar on Friday.

Asian currencies came under pressure on Friday after Fed officials indicated, as they have on previous occasions, they will not slow down the pace of rate hikes in their fight against inflation.

Traders now await U.S. jobs data later in the day, with a robust report sure to solidify bets that the Fed will deliver more rate hikes.

(Reporting by Nimesh Vora; Editing by Savio D'Souza)