&w=3840&q=100)
Rupee slides to two-month low on West Asia jitters; ends lower at 86.24/$
The Indian rupee fell to its lowest in over two months after a slightly higher open as crude oil prices rose amid rising geopolitical tensions.
The domestic currency depreciated 18 paise to end at 86.24 against the dollar, the lowest level since April 9 this year, according to Bloomberg. The currency has fallen by 0.77 per cent so far this month, and has depreciated 0.73 per cent in 2025.
As Iran-Israel clashes entered day four, US President Donald Trump urged Tehran's evacuation on Truth Social, saying: 'Iran should've signed the deal. What a shame and waste of life. Iran can not have a nuclear weapon.' The President cut short his visit to the Group of Seven summit in Canada on Tuesday.
This comes a day after a report suggested that Tehran wants to restart nuclear negotiations. After a brief cool-off, crude oil prices staged another rally after Trump's warning. Brent crude price was up 1.64 per cent to $74.43 per barrel, while WTI crude prices were higher by 1.56 per cent at 72.89, as of 3:35 PM IST. Rupee traded weak as rising risk sentiment from escalating Israel-Iran tensions weighed on the currency, according to Jateen Trivedi, VP research analyst - commodity and currency at LKP Securities. "Weakness in capital markets signaled potential FII outflows, adding to rupee pressure."
Brent prices can touch $150 a barrel (bbl) — up a whopping 103 per cent from the current levels — in the worst-case scenario if the Israel–Iran geopolitical tensions escalate, suggest analysts. Read more
The dollar rose against most Group-of-10 currencies as investors weighed the rising tensions in West Asia. The dollar index, which measures the greenback against a basket of six major currencies, was up 0.19 per cent at 98.18.
If the rupee closes above 86.20 today or on any day, importers may trigger stop-loss levels, potentially pushing the dollar up to 86.70, Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP.
That said, the Reserve Bank of India (RBI) has been actively intervening above the 86.20 level, selling dollars to stabilise the rupee, Bhansali said. "Oil prices remain the key driver for the currency, with foreign portfolio investors (FPIs) and oil companies buying dollars to meet their respective outflow requirements."
Meanwhile, RBI's chief Sanjay Malhotra said that if inflation is below the central bank's current projections, it could open up policy space. But he added that incoming data will be watched closely to strike "the right growth-inflation balance".
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
37 minutes ago
- India Today
Fact Check: Old photos, videos used to FALSELY claim Iranians are fleeing to other countries
As the Iran-Israeli conflict continues to escalate, US President Donald Trump urged residents of Tehran to evacuate the city immediately. Meanwhile, several videos and photos allegedly showing Iranians fleeing to bordering countries have surfaced online. In this story, we have debunked three such refugees fleeing to Afghanistan?A video showing a large group of people running through rugged terrain is going viral as Iranian refugees fleeing to Afghanistan amid the ongoing conflict with We found that several Nepal-based Instagram accounts had shared the same video on June 1. This means it predates the present Iran-Israel conflict, which began with Israel's attack on June per one such post, the video shows a massive influx of people in Nepal's Rupa-Patan, Dolpa, searching for Yarsagumba, also known as "Himalayan Viagra," a rare medicinal fungus found in Nepal's Himalayan region at elevations of 3,000 to 5,000 also found several videos similar to the viral video on YouTube in which the same terrain area can be seen. View this post on Instagram A post shared by madeinnepal (@madeinnepal143)Iranians crossing border to enter Pakistan?Another video allegedly showed Iranians rushing through a large gate to enter Pakistan. Sharing this video, an X user wrote, 'Refugees from Iran start to flood into Pakistan through Taftan border crossing.'advertisementResponding to the viral post, several people pointed out that the video was old and showed Pakistani Shia pilgrims visiting Iran. Reverse-searching keyframes from the viral video led to the same clip from August 9, 2024. This shows that the viral clip predates the ongoing per the post, the video showed the Pakistan-Iran border welcoming visitors of Al-Hussain. We also found the viral clip on YouTube shared on August 10, 2024. The Taftan border is important during Islamic events such as Muharram and Arbaeen, and Pakistani pilgrims enter Iran through it to participate in the Arbaeen religious rituals and to pay homage to the shrine of Imam Husayn in Iraq's stranded at the Afghan border?A photo of a large group of people stranded was shared as Iranians at the Afghan found the viral picture in a 2021 India Today report. As per the report, the image shows hundreds of Afghans gathered on the Pakistani side of the Chaman border, seeking to cross into Afghanistan. However, the Taliban did not permit crossings until Pakistan met certain demands. We found the same image used by other news publications at that time, which means that this photo has nothing to do with the Iran-Israel there are reports of Iranians leaving Tehran after the recent escalations. Residents have reportedly been fleeing to northern provinces such as Mazandaran, Gilan, and Alborz, leading to severe traffic congestion, fuel shortages, and disruptions in daily Pakistan has closed its border with Iran indefinitely amid the Israel-Iran conflict. Afghanistan also closed its border for cargo trucks after the conflict began. As per reports, some Iranians have sought refuge in Turkey. However, Turkish officials have denied reports of a large-scale influx of it is evident that these photos and videos do not show Iranians fleeing to neighbouring InMust Watch Want to send us something for verification? Please share it on our at 73 7000 7000 You can also send us an email at factcheck@
India Today
38 minutes ago
- India Today
VinFast partners with Global Assure to strengthen customer service network in India
VinFast, the Vietnamese electric vehicle (EV) manufacturer, has announced a strategic partnership with Global Assure to establish a robust and comprehensive customer service infrastructure across India. The move underscores the brand's commitment to delivering top-tier service as it prepares to launch its premium electric SUVs—the VF 6 and VF 7—in the Indian Assure, a mobility and service solution provider, will offer VinFast customers an end-to-end support ecosystem. This includes a 24/7 dedicated call centre, nationwide roadside assistance (RSA), mobile charging services, and on-demand mobile service vans equipped for emergency repairs and customer convenience, VinFast has activated a dedicated toll-free helpline (1800-571-8888) and email support (vfcareindia@ Speaking on the collaboration, Pham Sanh Chau, CEO of VinFast Asia, said, "As VinFast is gearing up to launch its premium electric SUVs - the VF 7 and VF 6 in India market, this partnership underlines the brand's commitment to ensure prompt, dependable, and customer focused support across the country. Global Assure's strong capabilities and nationwide reach are well aligned with our commitment to quality, convenience, and care. Together, we aim to establish a holistic and reliable electric mobility ecosystem in India that extends beyond our vehicles to offer true peace of mind for our customers."Echoing this sentiment, Manish Vij, Co-founder and CEO of Global Assure, added, "We are excited to be the trusted partner of VinFast's customer support in India. With Global Assure's extensive expertise in deep understanding of Indian customer needs and pan-India presence, VinFast customers can expect efficient response times and high-quality service making every journey smoother, safer, and more reassuring for VinFast owners."advertisementThe company, a subsidiary of Vietnam's Vingroup JSC, has been aggressively growing its EV portfolio, which includes electric SUVs, e-scooters, and e-buses, with a focus on key markets in North America, Europe, and electric vehicle (EV) manufacturer VinFast is set to make its debut in the Indian market with the launch of much-anticipated electric SUVs. The company, which has rapidly gained attention in the global EV market, aims to capture a share of India's electric vehicle market. The company will open bookings for the two EVs this month. VinFast will launch the VF6 and the VF7 in the Indian to Auto Today Magazine
India.com
39 minutes ago
- India.com
India hits JACKPOT in China's fight with US as New Delhi is now...., China will be angry due to....
Good news for India: In a significant development for Indian Economy, the Republic of India led by PM Modi has emerged as a key beneficiary of the ongoing US-China trade war, with Indian exports to the US witnessing a sharp 17.3% surge. While Chinese exports to the American market have declined due to the ongoing trade war between the United States led by US President Trump and China led by Xi Jinping. Readers should note that this shift in trade dynamics between India and US comes as the US increasingly diversifies its supply chains away from China, bringing new trade opportunities for countries like India and Vietnam. India's exports of goods and services India's exports of goods and services rise 2.8 pc to cross $71 billion in May amid global uncertainty. As per a report by IANS news agency, India's total exports of merchandise and services for May this year are estimated at $71.12 billion, which represents a growth of 2.77 percent over the same month of the previous year, despite the rising geopolitical tensions and trade war triggered by the hike in US tariffs. According to the global data, China's exports to America fell by 34.5% in May 2025 and at the same time, India's exports to America have increased by 17.3%. Top 5 export destinations for India The top 5 export destinations for India exhibiting positive growth in May this year are the USA (16.93 per cent), China (25.04 per cent), Australia (35.36 per cent), Russia (48.11 per cent), and Germany (17.05 per cent), according to the Commerce Ministry statement. The official figures released by the Commerce Ministry showed that the export of electronic goods, including smartphones, shot up by a robust 54.1 per cent from $2.97 billion in May 2024 to $4.57 billion in May 2025. India's merchandise trade deficit declines In another significant development for the Indian economy, India's merchandise trade deficit declined to $21.88 billion in May this year from $26.42 billion in April, reflecting a stronger external sector, according to data released recently. As per the report by IANS, the trade deficit was lower on a year-on-year basis as well compared to the corresponding figure of $22.09 billion recorded in May 2024. (With inputs from agencies)
