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₹ rises as oil dips, equities shaky on fragile Israel-Iran ceasefire
Business Standard
|June 25, 2025
Near-term outlook positive for Indian currency as truce takes hold after violations
The rupee posted its strongest single-day gain in a month on Monday, buoyed up by falling crude oil prices and a weakening US dollar, after American President Donald Trump announced a ceasefire between Israel and Iran, according to currency dealers.
Equity benchmarks Sensex and Nifty 50 surged too, but surrendered most of their intraday gains due to profit-taking, as reports of ceasefire violations by both sides prompted investor caution.
Explosions were reported in Tehran following Israeli airstrikes, despite Trump claiming that Tel Aviv had agreed to halt strikes at his command to preserve the hours-old ceasefire.
The office of Israeli Prime Minister Benjamin Netanyahu later confirmed a strike on a radar site near Tehran, describing it as retaliation for Iranian missiles launched three-and-a-half hours after the ceasefire was due to begin.
Early on Tuesday, Trump announced a "complete and total" ceasefire between Israel and Iran aimed at ending hostilities. On the back of the announcement, the rupee strengthened past the 86-per-dollar mark, closing at 85.97, compared with the previous close of 86.75.
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