Rupee posts steepest weekly drop in a month on Mideast war-led turmoil - Reuters
Rupee posts steepest weekly drop in a month on Mideast war-led turmoil Reuters
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Notable Quotes
"Given that the rupee was already relatively weak on a REER basis, a disproportionate depreciation versus peer currencies appears unlikely."
— Abhishek Bisen , Executive
"If geopolitical tensions persist and oil prices remain elevated, pressure on the rupee could continue in the near term."
— Jateen Trivedi , Executive
Key People
Head of fixed income at Kotak Mahindra AMC.
Vice President, Research Analyst for Commodity and Currency at LKP Securities.
Sanjay Malhotra is the Governor of the Reserve Bank of India.
Former RBI Governor who served from December 2018 to December 2024.
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<a href="https://news.google.com/rss/articles/CBMisgFBVV95cUxPaHg4MFZxUmFjcHgtR1gtaFFoVlB4cUpiUDdPaGxzeGtjNWV1TzdwSmI3SlZPc2VBMkJBdjI3MjQtYVRaUE1GYmZ4QnVReG5wWEtycjlUSDQzb0hZNi02QmtSc3hadjVVSUNjUmpBT1J3MHB2dThnSzdwTm15RFpTUTlwYUtsREJMd1FYSWxRa21LWDVHOU1iOVdaWTl6aW9BSDQ5dWNnS0xvc2tKTl85MDl3?oc=5" target="_blank">Rupee posts steepest weekly drop in a month on Mideast war-led turmoil</a> <font color="#6f6f6f">Reuters</font>
The Indian rupee ended slightly lower on Friday, recording its worst weekly fall in over a month due to the U.S.-Israel war on Iran, which led to a surge in oil prices and global market turmoil.
The rupee saw its sharpest fall in over five weeks as crude oil prices surged on rising West Asia tensions; RBI interventions helped prevent the currency from breaching the 91.5-per-dollar level.
The rupee dropped to a new low of 92.30 in the foreign exchange market as the conflict in the West Asia risks damaging the economy on multiple fronts.
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