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MUMBAI, June 23 (Reuters) - The Indian rupee declined on Monday alongside Asian currencies, as investors turned to safe-havens such as the U.S. dollar amid escalating tensions in the Middle East, although a retreat in crude oil prices helped cushion their losses.Market participants remained focused on Iran's response to U.S. attacks on its nuclear sites. Sign up here.The rupee closed at 86.75 against the U.S. dollar, down 0.2% from its close at 86.5850 in the previous session.Brent crude oil futures hit a five-month peak of $81.40 per barrel earlier in...

A recent surge in global oil prices, driven by geopolitical tensions in the Middle East, has increased pressure on Asian currencies, with analysts warning of heightened downside risks for the Thai baht, Korean won, and Taiwan dollar. According to a note by Barclays Plc, the upward momentum in oil is beginning to weigh heavily on the region’s largely oil-importing economies.In a report released Tuesday, Barclays’ Fixed Income, Currencies and Commodities (FICC) Research team said that a sharp escalation in the Israel-Iran conflict could worsen the outlook further. Barclays flags downside...

The sharp depreciation of the US dollar over the past three months poses a growing challenge for Indian IT companies, particularly those with a high concentration of USD-denominated revenues. The USD has depreciated sharply over the past three months, approximately 4 per cent against the INR and even more significantly against the EUR (7.6 per cent) and GBP (9.9 per cent). This sharp INR appreciation can negatively impact profitability, especially for mid-tier firms with high offshore exposure and limited currency hedging. Per an analysis report by Kotak Institutional Equities, the...