The Indian rupee weakened to a lifetime low and breached the psychologically significant 93-per-dollar mark for the first time on Friday on strengthen in American currency overseas and foreign fund outflows amid the ongoing West Asia conflict. A spike in the 1-month non-deliverable forward (NDF) towards 93.80 has also indicated further downward pressure on the currency. Meanwhile, market participants are closely tracking developments in the West Asia conflict, movements in crude oil prices, and any signals of intervention from the Reserve Bank of India to stabilise the rupee. However, firm domestic equity markets and a pullback ‌from recent highs in crude have limited further falls in rupee. Forex markets were closed on Thursday on account of Gudhi Padwa. 

The partially convertible currency is currently trading at 93.21, weaker by 32 paise from its previous close of 92.89 on Wednesday. The currency touched a high and low of 93.28 and 92.88 respectively.