The Indian rupee is expected to remain under pressure as global oil prices stay elevated due to the ongoing Iran-related conflict and uncertainty surrounding international energy supplies. The currency has hovered near record lows against the U.S. dollar as traders and investors closely monitor geopolitical developments linked to the Middle East, particularly discussions involving U.S. President Donald Trump and Chinese President Xi Jinping.

India’s growing appetite for gold is emerging as a major economic concern as rising imports add pressure on the country’s trade balance, foreign exchange reserves, and the rupee during a period of global geopolitical uncertainty.

India is routing portions of its roughly $80 billion welfare system through the e-rupee in about 10 pilot programs to curb leakage and corruption while giving its central bank digital currency a clearer use case.

India’s Tata Power reported a sharp fall in quarterly profit, as weakness in its thermal power business offset strong growth in renewable and transmission segments.

The Indian rupee is expected to remain weak and largely rangebound in the coming months, despite a newly announced trade agreement between the United States and India.

The Indian rupee strengthened sharply in early trade on Tuesday, appreciating 119 paise to 90.30 against the U.S. dollar after the United States reduced tariffs on Indian goods from 50% to 18%.

The Indian rupee weakened further on Friday, slipping to a fresh record low and closing close to the 92 mark against the U.S. dollar.

The Indian rupee fell to a record low on Wednesday, touching 91.73 against the U.S. dollar.