Rupee Hits Record Low of 93.94 Against US Dollar Amidst Global Turmoil

• The rupee depreciated by 41 paise to a new record low of 93.94 against the US dollar in early trade.
• Elevated global crude oil prices due to the West Asia conflict and a strong US dollar contributed to the rupee's slide.
• Sustained foreign fund outflows and a crash in domestic equity markets further weakened the local unit.
• The rupee had previously crossed 93 against the greenback for the first time on Friday, settling at 93.53.
• RBI intervention is expected to control further depreciation, but demand from oil and FPIs remains high.