Rupee breaches 92, hits record low; analysts fear 93 amid Mideast tensions

• Indian Rupee hit a record low, breaching Rs 92 per dollar, ending at Rs 92.15 on March 4.
• Analysts predict the rupee could soon test Rs 93 per dollar due to ongoing pressures.
• Elevated Brent crude prices and geopolitical tensions in the Middle East are driving investors to safe-haven US dollar.
• RBI intervention is crucial to prevent further sharp depreciation, as it was active near Rs 91 and Rs 92.31 levels.
• Currency volatility deters foreign portfolio inflows and could widen India's current account deficit.