The Indian rupee plunged to a record low of 89.6650 against the US dollar on Friday, marking its sharpest single-day decline since May 8, 2025. The currency fell 98 paise from its previous close of 88.6850, making it the worst-performing Asian currency for the day. Analysts attributed the fall to global risk-off sentiment triggered by steep corrections in cryptocurrencies and AI linked tech stocks, along with lingering concerns around US India trade tensions.