The rupee plunged 98 paise to close at its lifetime low of 89.66 against the US dollar on Friday, due to a huge demand for the greenback in the domestic forex market amid widespread selling pressure in local and global equities and trade-related uncertainties.
Concerns over a possible bubble building around artificial-intelligence technology stocks also spooked investor sentiments, forex traders said.
Besides, renewed foreign fund outflows added to the gloom, they added.
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