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The Economic Times
The Economic Times
Business

Rupee slumps to one-month low as oil soars after Trump says Iran deal is 'over'

Oil Donald Trump Iran India Middle East

The Indian rupee dropped to its weakest level in ​nearly a month on Wednesday ​after U.S. President Donald Trump said the interim accord with ​Iran to end the war was "over," sending oil prices soaring and hurting Asian currencies.

Traders said the Reserve Bank of India had likely intervened in the foreign exchange market to limit ‌the rupee's fall ⁠via ⁠dollar sales from state-run banks.

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