Indian Rupee and Bonds Gain on Hopes for US-Iran Peace Deal
The rupee and bonds are set to gain as optimism grows for a breakthrough in the U.S.-Iran conflict. A deal could reopen the Strait of Hormuz and cut oil costs.
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The India rupee and government bonds are stabilizing after United States President Donald Trump said an Iran deal is largely negotiated. The rupee recovered to 95.69 on Friday after hitting a record low of 96.96 last week. A diplomatic breakthrough would reopen the Strait of Hormuz and ease the rise in crude oil prices by approximately 45%.
