Rupee and Bonds Under Pressure Amid Iran War Jitters
The Indian rupee and bonds face pressure as the Iran war drives oil prices toward $110. The central bank is intervening to manage record low currency levels.
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The India rupee fell 5% to a record low past 96 per dollar. War jitters and rising oil costs drove bond yields higher. Rising energy costs and currency depreciation threaten India's inflation targets, forcing investors to price in 50 basis points of rate hikes.
