Rupee slumps to one-month low as oil soars after Trump says Iran deal is 'over'

The Indian rupee closed at 95.5550 per dollar, down 0.6% on the day and touching a one-month low of 95.60, as oil prices surged about 6% after US President Donald Trump declared the Iran deal memorandum 'over.' The RBI likely intervened via dollar sales from state-run banks to cap the decline. Indian stocks fell 2%, their steepest drop in over three months, while the 10-year bond yield rose 8 basis points, reflecting renewed concerns over oil-driven inflation and growth risks for India as a net energy importer.