Indian Rupee sinks into yet another record low on surging Treasury yields, oil prices
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FUNDAMENTAL OVERVIEW USD: The US dollar extended the gains across the board in the final part of last week as markets started to grow impatient amid the prolonged US-Iran stalemate and Strait of Hormuz closure. Treasury yields came into spotlight as they broke March highs on incr
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4 itemsThe Indian rupee is set to revisit record lows as US-Iran deadlock extends, tensions rise
Indian Rupee sinks to new record lows and consolidates: US-Iran remains the main driver
The Indian Rupee (INR) is under significant pressure, reaching new record lows against the US Dollar (USD) as geopolitical tensions and oil prices weigh heavily on its value. Per the full note from Giuseppe Dellamotta at investinglive.com, the lack of progress in US-Iran negotiations and rising oil prices have exacerbated the Rupee's decline. The desk believes that the INR's trajectory will remain closely tied to developments in the oil market and geopolitical stability, with a bearish structural trend evident in the currency's performance. Upcoming US economic data, particularly retail sales and jobless claims, could further influence USD strength and INR weakness.
The Indian rupee collapses to new record lows as surging oil prices outweigh RBI rate hikes
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The Indian rupee collapses to new record lows as surging oil prices outweigh RBI rate hikes