Indian rupee approaching record lows amid Iran conflict. The rupee slipped past 96 per dollar last week, declining 5% since the Iran war erupted on February 28. Brent crude oil climbed to nearly 110 per barrel, pushing global bond yields higher as investors worry about inflation pressures across Asia's third-largest economy. India's 10-year benchmark bond yield rose 8 basis points to 7.0644% on Friday, marking a third climb in four weeks. The central bank has intervened in currency markets and restricted precious metals imports to ease rupee pressure. Traders expect further depreciation unless central bank support continues. Higher oil prices threaten India's economy since the country imports 90% of crude requirements, impacting inflation and widening the current account deficit. Balance of payments pressures are expected to persist this week as markets monitor oil prices and U.S.
Post from MarketNews_en
Log in to interact with content.