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RBI steps in to support rupee as U.S.-Iran deadlock, Modi remarks spook traders

MUMBAI, May 11 (Reuters) – A jump in crude oil prices after U.S.-Iran peace talks hit a stalemate and Indian Prime Minister Narendra Modi’s urging of ​citizens to conserve foreign exchange spooked currency traders on Monday, sending the ‌rupee past 95 per dollar, which drew likely market intervention by the central bank. Indian assets were under pressure across the board with the rupee down 0.75% at 95.1850 per dollar while the benchmark ​equity index Nifty 50 fell over 1% and the yield on the 10-year ​benchmark note rose 5 basis points to 7.03%. The renewed pressure on Indian ⁠markets came

Iran war disruptions spark higher costs and lost income in Bangladesh

DHAKA, Bangladesh, May 11, 2026 (AP) — Tariqul Islam lost his savings after setbacks in his clothing business about a year and a half ago and turned to ride-sharing on his motorbike to make ends meet. Until recently, he spent hours in fuel lines as supply disruptions linked to the war in Iran ripple into Bangladesh. The 53-year-old father of four fears the strain will worsen if the war drags on, saying long hours waiting for fuel have sharply cut his income and made it increasingly difficult to support his family in Dhaka, the nation’s capital, including a daughter at

Stock markets slump in early trade amid rising crude oil prices

Mumbai, May 11 (PTI) Stock markets tumbled in early trade on Monday amid rising crude oil prices after the US and Iran failed to reach a peace deal to end the West Asia war. US President Donald Trump has dismissed Iran’s response to the latest US peace proposal as ‘totally unacceptable’, dampening hopes of an immediate diplomatic breakthrough, an expert said. The 30-share BSE Sensex tanked 845.68 points to 76,482.51 in early trade. The 50-share NSE Nifty dropped 237.90 points to 23,936.85. From the 30-Sensex firms, Titan, InterGlobe Aviation, State Bank of India, Eternal, Bharti Airtel and Mahindra & Mahindra

Rupee crashes 139 paise to 94.90 against US dollar in early trade

Mumbai, May 11 (PTI) The rupee crashed 139 paise to 94.90 against the greenback in early trade on Monday after President Donald Trump rejected Iran’s response to the US’s peace proposal, following which crude oil prices surged rapidly. A strengthening US dollar and steep FPI outflows further pressured the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 94.97 against the US dollar before inching up to 94.90, down a staggering 139 paise from its previous close. On Friday, the rupee pared its losses and ended with a sharp gain of 71 paise at

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