The Indian rupee experienced its largest weekly decline since May, closing down 1% against the dollar, as Brent crude oil prices surged 13% week-on-week to $85.7 per barrel. This jump was driven by intensified US-Iran fighting, raising concerns about energy supply through the Strait of Hormuz. Despite central bank intervention, strong merchant dollar demand persisted, keeping the rupee under pressure. For Pakistan, rising international oil prices could increase import costs, potentially adding pressure on the PKR and influencing local gold prices.
بحوالہ / Source: www.brecorder.com