The Indian rupee slipped on Monday, March 18 to breach ₹92.50 against US dollar for the first time ever extending its recent weakness as escalating tensions in the Middle East kept crude oil prices elevated, heightening economic risks for India and weighing on capital inflows. This development comes ahead of the US Federal Reserve's interest rate decision due later today. The Indian currency weakened to 92.65 against the US dollar, breaching its previous all-time low of 92.4750 recorded last week. It close at its record low of 92.63 (provisional), down 23 paise from its previous close. "The rupee traded sharply weaker by 18 paise (-0.21%) at 92.60, marking fresh all-time lows, as persistent pressure from a rising import bill continues to weigh on the currency. Elevated crude oil prices, coupled with ongoing shipment disruptions through the Strait of Hormuz, are increasing concerns over sustained higher import costs for India.

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