Rupee nears all-time low on U.S. and Iran truce worries
The rupee is set to hit an all-time low as the U.S.-Iran ceasefire faces collapse. High oil prices and energy concerns continue to pressure the currency.
The India rupee will hit a record low against the USD, with the currency expected to open between 95.45 and 95.55, surpassing the previous all-time low of 95.4325. A fragile U.S.-Iran ceasefire is fraying, keeping oil prices elevated. Rising energy costs and stalled diplomatic negotiations threaten to deepen the trade deficit for the world's third-largest oil importer.
### Geopolitical Friction Drives Oil Higher The United States and Iran are struggling to maintain an April 8 ceasefire, with negotiations showing little progress. U.S. President Donald Trump stated on Monday that the truce is on life support due to disagreements over naval blockades and oil export resumes. This instability pushed Brent Crude Oil up 1% to $105.22, a 46% surge since the conflict began in late February.
