Rupee slips with Asian peers as hopes of imminent U.S.-Iran peace deal falter

The Indian rupee weakened against the dollar as crude oil prices surged amid fading hopes for a U.S.-Iran peace deal. State-run banks intervened to cushion the fall. Rising inflation concerns are prompting analysts to anticipate a Reserve Bank of India rate hike, though economists expect rates to remain steady. The RBI is exploring measures to boost dollar inflows.