Indian Rupee Update

Advisory Bazaar Info Services LLP

💱 Indian Rupee (INR):

🔹 Rising geopolitical tensions between the US and Iran continue to push crude oil prices higher, keeping pressure on the Indian rupee.

🔹 The rupee is expected to trade in the 96.50–96.70 range today, with downside risks likely to persist. However, possible intervention by the Reserve Bank of India (RBI) may provide some support.

🔹 The rupee closed at 96.5650, near its weakest level in more than two months.

🔹 Persistently higher crude oil prices continue to weigh on the rupee, and any further increase in oil prices could lead to additional weakness.

🔹 Foreign capital inflows and RBI intervention have helped limit the downside risk in the rupee for the time being.

🛢️ Crude Oil Update:

🔹 Brent crude oil climbed above US$96 per barrel, reaching its highest level in six weeks amid escalating geopolitical tensions.

🔹 US strikes on Iran-linked assets have heightened concerns over potential disruptions to oil supplies, particularly through the Persian Gulf and Red Sea shipping routes.

🔹 Market analysts believe Brent crude may still be undervalued given the current geopolitical risks, suggesting further upside potential if tensions continue to escalate.