The Indian rupee reached a historic low against the US dollar on Thursday, pressured by a strengthening greenback and consistent selling by foreign institutional investors.
The currency saw 92.34 per dollar as of 0700GMT on Thursday, surpassing its previous record low as global risk aversion increased.
The decline to rising US Treasury yields and geopolitical tensions dampened investor appetite for emerging market assets.
Oil prices also played a role in the rupee's depreciation, as India imports more than 80% of its crude requirements, leading to concerns over a widening current account deficit.
The rupee has depreciated approximately 4% against the dollar since the beginning of the year, following a broader trend among Asian currencies.
