India, March 9 -- The Indian rupee came within a whisker of an all-time on Monday, battered by a relentless rally in global crude oil prices and deepening anxieties over India's external balances amid an escalating war in West Asia.

The rupee fell 46 paise against the US dollar to Rs.92.20 but weakened further to 92.33 within the first hour of trading. That compares with Friday's close of 91.74 and a record low of 92.30 set just last week.

The currency's retreat is directly tied to a shock in global energy markets. Brent crude oil prices spiked more than 25% Monday to trade near $117 a barrel, extending a massive 28% rally from the previous week.

The roughly 50% cumulative surge in oil prices is being driven by the expanding Iran war. ...