Indian rupee weakens as oil prices rise on failed US talks
The Indian rupee is expected to open lower as oil prices rose seven percent following the collapse of US-Iran talks. Supply concerns weigh on the currency.
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The Indian rupee is set to come back under pressure on Monday after a two-week relief rally, weighed down by a jump in oil prices following the failure of the United States and Iran to reach a deal to halt the war. The rupee is expected to open at 93.10-93.20 to the U.S. dollar, having settled at 92.7275 on Friday, per traders.
