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Rupee slide likely to continue as US sanctions threat looms over Iran
Rupee slide likely to continue as US sanctions threat looms over Iran
If rupee's weakness was a concern, the recent move by the United States to exit the Iran nuclear deal and a looming threat of US sanctions on Iran is likely to keep oil and gasoline prices higher.
“While the strengthening dollar has been a reason for the weakness of rupee, it has also been impacted by a rise in brent crude prices that currently is hovering around $76 per barrel and concern over current account and fiscal deficit,”said Nitesh Sharma, CEO, Route Forex.
