Rupee Breaches 94 Against US Dollar Intraday, Ends Flat Amid Volatility

• Rupee hit 94-level against US dollar for the first time in intraday trade on Monday.
• The local unit opened at 93.84 but recovered to settle unchanged at 93.53.
• Geopolitical tensions in West Asia, weak domestic markets, crude oil surge, and FII outflows weighed on the rupee.
• Analysts expect the rupee to trade with a negative bias, with RBI intervention providing support.
• India's forex reserves dropped by USD 7.052 billion to USD 709.759 billion.