The rupee on Thursday plunged by a whopping 130 paise to hit life-time low of 60 against the US dollar .

They said weak domestic fundamentals such as record current account deficit and high inflation concerns too put pressure on the rupee. The rupee had earlier hit its all-time intra-day low of Rs 58.98 on June 11.

The rupee had gained 7 paise to close at Rs 58.70 against the dollar in the previous session on the back of recovery in stocks and fresh dollar selling by exporters.