Indian rupee likely to open near 96 per US dollar
Business
The Indian rupee is set to open weaker on Monday, likely slipping near 96 per US dollar after closing at 95.8125 last week.
With U.S.-Iran talks stalled, oil prices have jumped, making things tougher for the rupee.
The Reserve Bank of India (RBI) is expected to step in and help steady the currency if it gets too close to that key 96 mark, something it has done before.
Trump rejection lifts oil and yields
Oil prices are up after President Trump rejected an Iranian offer, which has also sent the 10-year and 30-year US Treasury yields soaring to their highest levels in nearly two decades.
This combo is squeezing the rupee even more, and importers are scrambling to protect themselves from further swings as everyone braces for possible US interest rate hikes.