The rupee saw its steepest single-day drop in more than three months on November 21, sliding 78 paise to 89.46 per US dollar during intra-day trade and breaching the 89-mark for the first time. The sharp fall came amid weak cues from global and domestic equity markets.

At the interbank forex market, the currency opened at 88.67 and plunged 82 paise to hit a fresh all-time intra-day low of 89.50 before stabilising around 89.40. On Thursday, it had closed at 88.68 after a 20-paise decline. The earlier intra-day record low of 88.85 was hit on September 30, while the previous all-time closing low of 88.81 was recorded on October 14.

The latest slide marks the biggest single-session fall since July 30, when the rupee had lost 89 paise against the US dollar.

The dollar index inched up 0.04 pe

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