Rupee caught in tug-of-war between RBI-led unwinding, Trump's Iran deadline
By Nimesh Vora
Published on April 7, 2026.
The Indian rupee is expected to trade in a narrow range near 93 per dollar on Tuesday, supported by the central bank's unwinding of arbitrage positions. However, risks of a flare-up in the Iran war are expected to cap upside. The rupee settled at 93.06 per dollar following three days of heightened volatility. U.S. President Donald Trump has warned Iran that it may be "taken out" if it fails to reach a deal, threatening to reopen the Strait of Hormuz if it does not comply.
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