Rupee: On Friday, the Indian rupee debuted at an all-time low, spurred by news of Israeli airstrikes in Iran, causing investors to flee from risky assets and seek refuge in safer options. Opening at 83.5550 against the U.S. dollar, it slid further from its previous record of 83.5475 and was down from 83.5375 on Thursday. Concurrently, U.S. equity futures and Asian shares dipped, while there was an uptick in demand for safe havens, particularly U.S. Treasuries, News agency Reuters reported,
The dollar index reached a six-month high, while Asian currencies, particularly the Korean won and Indonesian rupiah, faced downward pressure. Asian equities also suffered, experiencing declines of up to 2.3 per cent.
The surge in U.S. Treasury yields, triggered by better-than-expected retail sales data for March, contributed to the strength of the dollar. The data suggested a robust economy, diminishing expectations of a Fed rate cut in the near term.