Overview

• The rupee closed at 86.09 against the US dollar on Friday, its weakest level since April 11 and down 49 paise from the previous session.
• Brent crude surged 7.22% to about $74.37 a barrel following Israel’s strike on Iran’s nuclear facilities, pushing global oil benchmarks higher.
• The Reserve Bank of India conducted forex interventions to limit volatility and curb sharp dollar demand in offshore markets.
• Benchmark equity indices Sensex and Nifty each fell around 0.7%, driven by foreign fund outflows and a shift toward safe-haven assets.
• India’s reliance on energy imports leaves it vulnerable to oil price swings, with every $10-per-barrel rise potentially adding 35 basis points to consumer inflation.