Indian rupee at record lows: FX strategist on how a protracted Iran war will affect the INR

Indian rupee at record lows: FX strategist on how a protracted Iran war will affect the INR

Abbas Keshvani of RBC Capital Markets discusses the effect of the Middle East war on the Indian rupee, through a widening current account deficit and market speculation. He says a protracted war will result in a 'slow bleed weaker' in the rupee. He cites repatriation risks, especially from the tightening of H1-B visas, as his biggest concern for the direction of the rupee.

Indian Rupee falls back as Iran denies involvement in negotiations with US

The Indian Rupee (INR) opens lower against the US Dollar (USD) on Tuesday after a strong recovery move the previous day. The USD/INR pair recovers to near 94.28 from the immediate low of 93.30 as the US Dollar gains ground after a steep retracement on Monday, which was driven by the announcement from United States (US) President Donald Trump that he has postponed scheduled military strikes on Iranian power plants for five days. US Dollar’s recov…