Currency Update: The effect of increasing tension between America and Iran is now visible on India’s pockets as well. On Thursday, the Indian rupee opened at 96.2475 against the dollar. It has reached very close to its lowest level of 96.96 made in May. The rupee has weakened by about 1.7% so far this month.

Why is the rupee weakening?

The biggest reason for this is the rising prices of crude oil. After increasing US-Iran tension, Brent crude has reached above $ 85 per barrel. There is a fear that if the situation worsens, the oil supply from Hormuz may be further affected. A large part of the world sends oil through this route. India buys more than 85% of its crude oil needs from abroad, hence as soon as oil becomes expensive, the demand for dollars increases and the rupee starts weakening.

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Why did the market panic due to increasing tension?

On Wednesday, America attacked Iran’s coastal defense and missile bases. After this, Iran warned of further reducing energy exports. In such a situation, the world fears that oil supply may be affected. For this reason, investors turned towards the US dollar which was considered safe, which further increased the pressure on the rupee.

Why is the effect of RBI’s efforts not visible?

A few weeks ago, when crude oil became cheaper, the Reserve Bank had taken several steps to increase the inflow of dollars. It was expected that the rupee would strengthen but now oil has become expensive again. Due to increase in demand for dollars in the market, the effect of those steps of RBI has weakened.

What effect will it have on your pocket?

• Both weak rupee and expensive oil can increase the expenses of common people.
• Petrol and diesel can be expensive.
• Due to cost of air fuel, flight tickets may become expensive.
• The prices of mobiles, laptops and other imported goods may increase.
• Expenses for studying abroad and traveling abroad may increase.
• Many imported food items can also become expensive.

If the pressure on both oil and rupee continues for a long time, inflation may increase. In such a situation, it may be difficult for RBI to reduce interest rates, which may affect loans and EMIs.

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What will happen next?

Now the whole world is eyeing the next step of America and Iran. If tensions increase, crude oil may become more expensive and the rupee may remain under pressure. If the rupee goes below the level of 96.96 then it will be the weakest level ever against the dollar.

Tension has increased on the Strait of Hormuz amid attacks by America and Iran on each other. At present, America and Iran are again face to face over control over the largest route of global oil supply. Meanwhile, the United Arab Emirates (UAE) is making a plan by which Hormuz can be bypassed. UAE is planning to build a new port on its east coast.

Why was there a need for a new port?

According to the Financial Times report, Dubai’s leading logistics company DP World will develop this new project in the Emirate of Fujairah. Along with this, a new terminal will also be built at the existing port there. UAE is an important strategic ally of America. During the recent US-Iran war, the missile and drone attacks launched by Iran also affected the UAE. During one of the attacks, missile debris caused a fire at Dubai’s Jebel Ali Port.

Work at UAE port halted due to war

Due to this war, the maritime trade through the Strait of Hormuz was badly affected. Ever since Iran closed Hormuz, the work of Jebel Ali, West Asia’s largest container port, had come to a standstill by about 90 percent. This port is completely dependent on Hormuz. According to the report, this new project of DP World will be located in the Gulf of Oman on the eastern coast of UAE. Its biggest advantage will be that the ships coming here will not need to pass through Hormuz.

Port will be ready in 18 months

With this, any goods will land directly on the east coast and from there will be transported by road to Dubai, Abu Dhabi and other Gulf countries. An official associated with this project said that it will be ready in about 18 months. Hundreds of millions of dollars are expected to be invested in this. However, the company also made it clear that the construction of the new port will not reduce the importance of Jebel Port. He said that the new port will only serve as a safe alternative.

Iran’s Health Ministry has claimed that 14 people have died in US air strikes in the last two days, while 78 others have been injured. According to the ministry, America carried out air strikes in five provinces of Iran during this period. The injured are being treated in different hospitals. This claim has come at a time when after the ceasefire between America and Iran was broken, the tension between the two countries has again reached its peak.

Ceasefire ends, America resumes military action
The ceasefire between America and Iran has now been broken. After the attacks on commercial ships in the Strait of Hormuz, America has once again intensified military operations against Iran. US President Donald Trump said that the ceasefire has now ended and if Iran continues to target international ships, America will respond more strongly than before.

Attacks on missile and drone targets in southern Iran
According to US officials, on Wednesday and Thursday night the US Navy and ground forces jointly attacked several military targets in southern Iran. In these attacks, missile systems, drone bases and those bases around the Strait of Hormuz were targeted, which the US considers a threat to international maritime trade.

CENTCOM confirms additional strikes
US Central Command (CENTCOM) has confirmed that it has launched additional military strikes against Iran. America says that their objective is to weaken Iran’s ability to influence the movement of ships in the Strait of Hormuz. The Strait of Hormuz is counted among the busiest oil transportation routes in the world.

Tension increased after attacks on ships
The latest tensions began when Iran was accused of attacking at least three commercial ships and oil tankers in the Strait of Hormuz on July 6 and 7. Calling it a ceasefire violation, America carried out a precision strike on more than 80 military bases in southern Iran on July 7. After this, a new round of attacks continued on 8th July also.

Targets from air defense to command center
According to the US Army, many military targets like air defense systems, coastal radar, anti-ship missile systems, IRGC’s fast attack boats and command centers were targeted in these attacks.

Sounds of explosions in southern coastal areas
According to Iranian state media, after the US strikes, several loud explosions were heard in the southern coastal areas including Bandar Abbas, Konark and Chabahar. America says that its objective is to ensure safe movement of international ships and to weaken Iran’s military capability.

Hormuz LNG Vessel Attack: A major update has emerged related to the suspected drone attack on an LNG carrier near Qatar in Hormuz on Monday. There were four Indian crew members on board this ship. This ship was going to Dahej in Gujarat. News agency ANI has claimed quoting sources. According to the officials, all the citizens are safe.

According to news agency ANI, this ship named LNG Al Reqaiyat was attacked near the Gulf of Oman in Hormuz. RSPL has shared information related to this to DGCOMM. From the information that has come to light at present, the ship has suffered a lot of damage.

How many people were on board the ship? Engine room caught fire due to attack

There were 29 people on board this ship. These included four Indian citizens. At present everyone is safe. It was earlier reported that a fire broke out in the engine room of the ship after the attack. Smoke came out of it. All 29 people were on board during the attack.

The targeting of the Qatari vessel “Al-Rekayyat” while transiting near the Strait of Hormuz constitutes an unacceptable attack on the security & safety of international maritime navigation, the security of global energy supplies, & a grave & explicit violation of international…

— द. Majed Mohammed Ansaree Dr. Majed Al Ansari (@majedalansari) July 7, 2026

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Qatar accused Iran of attack, know what it said?
The incident has happened at a time when Iran is bidding last farewell to its Supreme Leader Ayatollah Khamenei. Hormuz is an important global route. In this entire matter, Qatar has blamed Iran for these attacks. Questions have been raised by Qatar regarding maritime navigation security. Also this attack has been described as a violation of international law.

Qatar appeals to Iran to stop attacks

A statement has been issued by Qatar that the Islamic Republic of Iran should immediately stop such activities. It weakens the security of the area. There is a threat to the safety of international maritime navigation. This attack on Qatar’s ship has once again increased the risk of worsening of the situation in the Middle East.

Here Trump threatened Iran, on the other side missiles started raining in Hormuz, 3 ships attacked in 24 hours

Iran has started preparations to impose service fees on ships passing through the Strait of Hormuz, one of the world’s most important maritime trade routes. Iran’s Ambassador to China Abdolreza Rahmani Fazli said that Tehran will soon implement the new system. He also said that the countries that supported Iran during the recent conflict will be given special concessions in this new system.

Announced at the World Peace Forum in China
Speaking at the World Peace Forum held in Beijing, the Iranian Ambassador said that a new arrangement is being prepared for the movement of ships through the Strait of Hormuz. For this, Iran is working together with Oman. This statement has come at a time when America has already made it clear that it does not support the idea of ​​Iran collecting duties from ships.

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Exemption was given to pass without fee for 60 days
Under the initial agreement between the two countries after the end of the recent Iran-US conflict, commercial ships were allowed to pass through the Strait of Hormuz without any duty for 60 days. However, no official information has been given yet regarding whether the new rule will be implemented after the end of this 60 day system.

‘There will be no toll, there will be service fee’
Iranian Ambassador Abdolreza Rahmani Fazli said that a part of the Strait of Hormuz falls in Iran’s territorial waters. In such a situation, charging service fees from ships is completely justified. He said, ‘We will definitely charge service fee, but it should not be seen as toll tax.’

Fees will be charged for these services
According to the Ambassador, this fee will be charged for services like providing safe passage to ships, monitoring their movement and dealing with the environmental impacts caused by heavy maritime traffic.

Friendly countries will get special concession
The Iranian ambassador said that the countries which stood with Iran during the recent conflict will be given special facilities in the new arrangement. He said, ‘We will definitely make special arrangements for those countries who remained our friends and stood by us in difficult times.’

Hormuz Strait is very important for the world oil business
The Strait of Hormuz is one of the world’s most important maritime trade routes. About 20 percent of the world’s crude oil and liquefied natural gas (LNG) is exported through this route. During the recent Middle East conflict, Iran had closed this route to a great extent, due to which there was a sharp rise in the prices of oil and gas in the global energy market.

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Sea route opened again after agreement with America
Later, after the initial agreement with America and the conflict stopped, Iran reopened the Strait of Hormuz for the movement of ships. At present, talks are going on between the two countries regarding a permanent agreement. Meanwhile, Iran’s announcement of imposing service fee is being considered a big step in terms of international maritime trade and energy market.

Strait of Hormuz: For the past few months, ever since the war between Iran and the US started, the Strait of Hormuz was blocked. Recently, after the ceasefire, people had heaved a sigh of relief, but now once again it seems that people will be hit by inflation. Because after the end of the war with America, Iran is now going to make the Strait of Hormuz its new source of income. Let us know how.

How will Hormuz become a source of income for Iran?
In fact, according to the report of The Wall Street Journal, Iran wants to make major changes in the management of the Strait of Hormuz. For this, it has given a new proposal, under which fees will be charged from ships passing through this route in exchange for services like security, safe navigation and environmental protection. If this plan is implemented then the countries involved in it can earn up to 40 billion dollars every year.

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What did Iran say?
Regarding this, Iran says that after the recent war, the operation of the Strait of Hormuz cannot continue as before. Therefore, a new system should be created in which the Gulf countries jointly manage this sea route and share the earnings from fees among themselves. Due to which the income of Iran and its associated countries will increase.

According to the report, Iran is trying to garner the support of China and other Gulf countries to implement this plan. Iran’s Chief Negotiator Mohammad Bagher Ghalibaf said during his visit to Oman that the management of Hormuz will no longer be done in the old way. Iran has prepared this model inspired by the Strait of Dardanelles of Turkey.

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Will it be affected by inflation?
If this proposal of Iran is passed, then in the coming time, inflation may increase in other countries where crude oil and gas are exported from the Strait of Hormuz. One of which is India, where the war between Iran and America had a direct impact. Due to shortage of crude oil, shortage of petrol, diesel and gas was observed here. So their prices had also increased.

America is against
Let us tell you that America has opposed this proposal of Iran. US Secretary of State Marco Rubio said that no country has the right to charge fees from ships passing through international waterways and America will not support any such arrangement. The report also said that under the recent 60-day ceasefire agreement, Iran will have to remove mines from the Strait of Hormuz and the movement of ships will have to continue without any toll.

Strait of Hormuz: In the last few months, India and its people have seen a severe shortage of oil and gas. Due to the war between Iran and America since February, the Strait of Hormuz was blocked, due to which the movement of crude oil and gas was stopped. However, now there has been a ceasefire, after which ships filled with oil and gas have left from Hormuz for India.

There will be no shortage of oil and gas
In fact, 30 ships coming to India loaded with oil and gas have so far safely crossed the Strait of Hormuz. This is a good and happy news for India. After this, there will be no shortage of oil and gas in India, it is possible that their prices may also come down a bit. According to the report of Time of India, 26 other ships are still waiting to pass through this important sea route.

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What did the Shipping Ministry tell?
Speaking to TOI, shipping ministry sources said that out of the 30 ships that had crossed the Strait of Hormuz, about half were carrying LPG and LNG. Apart from this, 8 ships were carrying bulk goods and 7 ships were carrying crude oil. According to reports, 19 ships had crossed this route between March 1 and June 17. At the same time, after the agreement (MoU) between Iran and America, 11 more ships have passed safely, which has shown signs of reducing tension in the region.

26 ships are in line
While 30 ships have departed, there are 26 ships which are still stranded in the western part of the Strait of Hormuz in the Persian Gulf. Of these, 3 ships are carrying energy related goods, 10 ships are carrying fertilizers and 13 ships are carrying other types of goods.

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Oil and gas are important for India
In view of the shortage and rising prices of oil and gas in India, the arrival of these ships is a matter of relief. India was in great need of this at this time. It is possible that now there will be abundant reserves of oil and gas in the country and due to this the rising prices will also come down. By doing this, the impact of inflation on the general public will also be reduced.

Oil-LPG Crisis News: Amidst the news of tension in the Gulf countries reducing, a new problem is emerging. After the ceasefire, the movement of ships from Hormuz has started again at a rapid pace, but now there is a huge shortage of ships there. For this reason, the fare of a big oil tanker coming to India has been fixed almost 9 times more than the normal rate, which is being said to be the most expensive fare of this year.

With this, this booking by South Korean shipping company Sinocor has made it clear that the Hormuz crisis is not over, but has now emerged in a new form.

record fare booking

The big ship that has been booked to bring crude oil from the Persian Gulf to India can carry about 2 million barrels of oil. According to ship brokers, its fare has been fixed almost 9 times more than the normal and this is the biggest booking of the year. This figure itself shows that even though reports of tension have reduced, the situation at sea has not yet become normal.

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How is the fare decided?

The fare of oil ships is not fixed directly in dollars, but is decided through a special system, in which a standard fare for each route is fixed. When a ship is booked, its fare is quoted as a percentage of the standard fare. In simple words, this time the oil sourcing company is having to pay almost 9 times the amount for bringing oil once.

real beginning of stress

It is important to understand the reason why the rent is so high despite the stress being reduced. The conflict between America, Israel and Iran started in March 2026, after which the movement of ships from the Hormuz area stopped by 92 percent.

This is the same sea route through which 20 percent of the world’s oil passes. During that time, the fare on ships had reached 4 lakh 23 thousand 736 dollars per day and the insurance companies had stopped providing security cover to the ships out of fear.

When the route opened, there was a shortage of ships.

After the agreement between America and Iran in June 2026, when the tension subsided, the oil companies heaved a sigh of relief and started trying to source oil from the Gulf again, but this is where the real trouble started. Oil is there but there are not enough ships left to bring it.

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During the months of tension, many ships had gone away from there and now the return is not happening so quickly. After the tension subsides, only 65 empty ships can reach the Gulf of Oman within a week, out of which 25 ships are only with Sinocor Company. Demand is high and ships are less, hence buyers are forced to pay the asking price.

India’s vigilance and diplomacy

It is also important to know what is being done by India in this entire crisis. The Indian government is on high alert regarding its energy security and the safety of sailors. The government is constantly engaged in talks with international agencies to protect India’s maritime interests.

It is a matter of relief that 94 Indian sailors and 3 Indian ships Desh Vaibhav, Desh Vibhor and Sanmar Herald loaded with 8.6 lakh metric tonnes of crude oil have successfully crossed this dangerous route. These ships are reaching Indian ports between June 24 and July 1, 2026. According to the Ministry of External Affairs, after the US-Iran agreement, a total of 11 ships coming to India have crossed this route safely.

India’s record of importing oil from Russia

India had already sensed this danger and changed its strategy. India is heavily dependent on the Strait of Hormuz for its energy needs, especially for LPG, 90 percent of which comes from here.

For this reason, India has made a new record of oil import from Russia. In June 2026, oil imports from Russia have reached an all-time high of 26 lakh barrels per day and now about 53.5 percent of India’s total oil imports are coming from Russia alone. Apart from this, Indian companies have also started importing oil from countries like North America and Venezuela, so that there is no dependence on any one place.

What will be the impact on the common man?

The question that matters most is what impact it will have on the life of the common man. The interesting thing is that even though the fares on ships have increased by 9 times, the prices of crude oil are falling in the world market. Currently, the price of Brent crude has fallen to around $73 per barrel.

Still, as long as the shortage of ships persists, it will be difficult to get relief for India’s state oil companies, which were facing losses of about Rs 650 crore every day during the crisis. If the supply of ships becomes normal in the coming weeks, then India’s import bill will reduce, the rupee will strengthen and it will also help in controlling the inflation of petrol and diesel, but till then the tension is going to remain.

Just before the start of peace talks between Iran and America, contradictory claims regarding the Strait of Hormuz have created new uncertainty. On one hand, Iran has claimed that it has again closed the strait for the movement of ships, while the US Army says that the movement of commercial ships through this strategic sea route continues normally. This development has also raised questions on the US-Iran talks to be held in Switzerland.

Iran again claims to close Hormuz
According to Iranian state media and state TV, Iran’s Khatam-al-Anbiya Central Headquarters announced that the Strait of Hormuz was being closed to shipping. The military headquarters said that this step has been taken in response to Israeli attacks in southern Lebanon and the US not fulfilling the promises made under the recent agreement. The Iranian army warned that if the situation worsens, further steps can be taken.

America denied, said- traffic normal
Immediately after Iran’s claim, the US Central Command (CENTCOM) rejected it. Centcom said that the movement of ships through the Strait of Hormuz continues without any interruption and US forces are continuously monitoring the situation. According to CentCom, 55 commercial ships passed through this route on Saturday, through which more than 17 million barrels of oil were transported to global markets.

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‘Iran has no control over Hormuz’
CentCom also said in its statement that Iran does not control this international sea route and freedom of navigation remains completely intact. Speaking to Al Jazeera Arabic, a CENTCOM spokesperson said that the US military is closely monitoring the situation to ensure the safety of maritime traffic and maintain the unhindered movement of merchant ships.

JD Vance also expressed confidence
US Vice President JD Vance also said that he has not found any evidence to prove that the Strait of Hormuz has actually been closed. Before leaving for Switzerland, Vance expressed hope that through diplomatic efforts the ceasefire could be maintained and talks would move forward on Iran’s nuclear program and the situation in Lebanon.

Reason given for Israeli action in Lebanon
Iran has linked its decision to close Hormuz to the ongoing Israeli military action in Lebanon. Tehran says that these attacks are a violation of the terms of the ceasefire and the agreement. Iran’s Islamic Revolutionary Guard Corps (IRGC) has warned ships that the safety of ships coming close to the strait may be in danger.

America accused of not implementing the agreement
Mohammad Mokhbar, advisor to Iran’s supreme leader, accused America of not implementing the first condition of the interim agreement. He said that as long as this agreement remains only on paper, energy supply and oil trade from the Middle East will continue to be affected.

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Peace talks will still continue
Despite tension and accusations, talks between America and Iran are expected to continue. The Iranian delegation, which includes chief negotiator Mohammad Bagher Ghalibaf and Foreign Minister Abbas Araghchi, has reached Switzerland. Vice President JD Vance, Special Envoy Steve Witkoff and other senior officials are going to be included in the American delegation.

Why is the Strait of Hormuz important?
The Strait of Hormuz is one of the most important oil routes in the world. A large part of the global oil supply passes through this route. In such a situation, the news of its closure has increased concern in the international energy markets. However, at present the claims of America and Iran are completely opposite to each other, due to which there is confusion about the real situation. Amidst this uncertainty, the entire world is keeping an eye on the US-Iran talks to be held in Switzerland.

Hopes for a peace agreement and getting the Middle East back on track seem to be fading once again for the global economy. Iran has closed Hormuz after Israel violated the ceasefire in Lebanon. The news has come out quoting Iranian media.

According to Al Jazeera, a few days after the peace agreement was agreed here, Iran on Saturday closed Hormuz after America and Israel allegedly violated the ceasefire.

violation of ceasefire agreement

Iran’s top joint military command, the Khamir al-Anbia Central Headquarters, said it closed the important sea route following alleged violations of the ceasefire agreement by the US and Israel, Iran’s official news agency reported. Apart from this, the army has warned that if the attacks continue, then further steps have been planned.

If attacks continue, more steps will be taken
Iran’s military says it Blockade This is the first step taken after breaking the promises. Also issued a warning that if the attacks continue, steps will be taken.

In fact, this comes after at least 16 people, including two children, were killed in Israeli attacks on southern Lebanon on Saturday. Israel and Lebanon agreed to a ceasefire agreement on Friday.

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Trump has issued a warning regarding delay in signing the deal

Earlier on Friday, US President Donald Trump had issued a statement. In this he had said that we did not meet under compulsion. Iran did it. His game is over. We will wait for 60 days. They will not get any money. You won’t get even a single penny. This statement has come at a time when there were reports of delay in deal signing in Switzerland.

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