New Delhi, March 19 -- The Indian Rupee continued its downward trajectory, breaching the 93-mark to hit a fresh record low of 93.35 against the US dollar on Thursday, extending its ongoing depreciation streak.
The domestic currency had already shown signs of weakness earlier this week, slipping past the 92 level before further losses pushed it to the current historic low. This sustained decline reflects mounting external pressures and fragile market sentiment.
Market observers attribute the sharp fall primarily to rising global crude oil prices, driven by escalating geopolitical tensions in West Asia. Higher oil prices typically widen India's current account deficit, increasing demand for the US dollar and exerting pressure on the rupee....