US airstrikes on Iran, rupee gains
Analysis based on 6 articles · First reported Jul 10, 2026 · Last updated Jul 10, 2026
The escalation in West Asia tensions has increased risk aversion, but a weaker dollar and lower oil prices provided a boost to the India — Indian rupee and equities. Continued volatility is expected as the conflict evolves.
On July 9-10, 2026, the United States launched fresh airstrikes against Iran, and Iran responded by targeting US-allied West Asian countries including Bahrain, Kuwait, and Qatar. The exchange of fire threatened an interim ceasefire deal. The India — Indian rupee appreciated 14 paise to settle at 95.33 against the US dollar, supported by a weaker dollar index, easing crude oil prices, and strong domestic equities. Brent Crude fell 0.62% to $75.83 per barrel. The S&P BSE Sensex jumped 827.57 points (1.08%) to 77,569.39, and the Nifty surged 244.10 points (1.02%) to 24,206.90. Foreign institutional investors offloaded equities worth Rs 532.86 crore.
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