Rupee stays near record low as oil and Iran concerns weigh
The rupee remains near record lows as oil prices and the Iran conflict weigh on sentiment. Traders await a meeting between the US and China for potential relief.
Xurve View
Insights:
Xurve View
India's rupee is expected to open between 95.70 and 95.80 per USD on May 14 morning, holding near its record low. The currency hit 95.7950 on May 13 afternoon as the 11-week conflict in Iran continues to drive energy costs higher. Persistent oil-linked headwinds threaten to widen the trade deficit.
