The Indian rupee weakened past 93 per dollar, extending its decline after hitting record lows, as surging oil prices and heightened geopolitical tensions in the Middle East continued to weigh on sentiment. The standoff between President Donald Trump and Iran over control of the Strait of Hormuz has intensified, with the US issuing a 48-hour deadline to reopen the waterway, while Iran has warned it could shut the passage entirely if its infrastructure is targeted. The currency has fallen 3% since the conflict began and remains under pressure as the crisis enters its fourth week. Although traders anticipate the possibility of central bank intervention to curb speculative positioning after the sharp decline, sentiment remains fragile. Market participants are now awaiting preliminary purchasing managers’ index data for further insight into economic activity amid ongoing uncertainty.