Trump Unleashes 'Economic Warfare' on Iran, Oil Prices Surge
US President Donald Trump has launched what he calls an 'economic warfare' campaign against Iran, targeting the country's economy and threatening consequences for nations providing it with financial or commercial support.
Oil prices have risen for a fourth consecutive day in response to the escalating tensions, with Brent crude trading near $92 per barrel.
The Indian rupee has opened stronger despite elevated crude prices, while the Reserve Bank of India's latest minutes are also influencing bond market trends. Life Insurance Corporation (LIC) has received approval from the RBI to increase its stake in HDFC Bank to 9.99%, and Aditya Birla Capital is expanding into gold loans with plans for 1,000 branches over the next three years.
Natixis Corporate's Chief Economist-Asia Pacific & Middle East, Alicia Garcia Herrero, believes that genuine inflows are needed in India to boost the rupee, and that the Iran war and AI trade could be key drivers of recovery.