Indian rupee hits record low beyond 92/$1 as geopolitical tensions escalate.

Indian rupee hits record low beyond 92/$1 as geopolitical tensions escalate. The rupee breached the 92 per dollar mark for the first time Wednesday, closing at 92.15/$1, driven by risk aversion from the US-Israel-Iran conflict. The currency fell 68 paise from Monday's level, with the Reserve Bank of India intervening in late afternoon trading to limit the slide. The central bank sold dollars aggressively near 92.27 to 92.30 levels to arrest depreciation. Crude oil prices climbing to $83 per barrel from $70 before weekend attacks are pressuring India's import-heavy economy. The Strait of Hormuz, critical for global oil shipments, faces potential disruptions. Elevated oil prices threaten India's inflation outlook since imports account for nearly 80% of consumption. The rupee remains the worst-performing Asian currency this year, declining over 2% since January.