<div id="readability-page-1" class="page"><div id="parent_top_div">The rupee fell to a fresh low of 92.48 per dollar during intraday trades on Friday as the dollar index climbed to a three-month high amid escalating geopolitical tensions in West Asia, dealers said. The dollar index rose beyond 100 to 100.10 against the previous day’s 99.29. It measures the strength of the greenback against a basket of six major currencies. The local currency settled at a new closing low of 92.46 per dollar, against the previous close of 92.20 per dollar. Additionally, for the past two weeks, heightened risk aversion in global markets has pushed crude oil prices higher, putting sustained pressure on the rupee and its Asian peers. “The Indian rupee weakened for the second consecutive week, settling at a fresh record low as geopolitical worries weighed on the local currency. Surging global crude oil prices, driven by escalating tensions in West Asia, and sustained foreign fund outflows amid heightened risk aversion have kept the rupee under significant pressure. Furthermore, aggressive dollar demand from importers and traders intensified as the currency breached the record high,” said Dilip Parmar, Senior Research Analyst, HDFC Securities. “Spot rupee maintains a bullish bias, with immediate resistance anticipated between 92.50–92.70 and support at 92.05,” he added. The rupee has depreciated by 7.56 per cent in the current financial year so far, whereas in the current calendar year it has weakened by 2.79 per cent against the dollar. On the other hand, the yield on the benchmark 10-year government bond settled 1 basis point higher at 6.68 per cent, against the previous close of 6.67 per cent. Market participants said bond yields remained capped as the cut-off in the open market operation (OMO) purchase auction came in at prices higher than prevailing market levels, which helped stabilise sentiment. However, the outcome was largely in line with expectations and therefore had a limited impact on yields. “The OMO cut-off was better than secondary market prices, but it was along expected lines, hence it did not affect the yield much,” said a dealer at a primary dealership. The RBI bought ₹50,000 crore worth of bonds via an OMO auction on Friday. Additionally, to ensure that foreign exchange intervention does not tighten system liquidity, the spot intervention is being sterilised through swaps and on-screen purchases of government bonds. This active liquidity management is reflected in higher “others” activity in secondary market G-sec transactions. Latest data by the RBI showed that the central bank bought ₹57,210 crore worth of bonds in the secondary market in the previous week. In February, the central bank carried out on-screen OMO purchases worth ₹12,700 crore, in addition to auction-based OMO purchases of ₹50,000 crore. In January as well, on-screen OMO purchases amounted to ₹71,000 crore, alongside auction-based OMO purchases of ₹1.5 trillion. </div></div>

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The Indian rupee fell to a record low of 92.48 per dollar amid rising geopolitical tensions and a stronger dollar index, which reached 100.10. The rupee settled at 92.46, marking a 7.56% depreciation this financial year. Increased crude oil prices and foreign fund outflows contributed to the rupee's decline. Analysts suggest immediate resistance for the rupee is between 92.50–92.70, with support at 92.05. Meanwhile, the yield on the 10-year government bond rose slightly to 6.68%. The RBI's bond purchases and liquidity management efforts are ongoing to stabilize the market.

Rupee falls to fresh low of 92.48 against dollar amid global risk aversion