India’s Rupee Seen Sliding to 100 per Dollar as Oil Prices Surge

The rupee may weaken to a record 100 per USD or beyond if the Iran war drags on, say strategists. The currency has dropped roughly 10% over the past year and authorities' interventions to slow the decline may only provide temporary relief, creating downside risk for EM assets, FX flows and oil-linked market volatility.

Analysis

The rupee may weaken to a record 100 per USD or beyond if the Iran war drags on, say strategists. The currency has dropped roughly 10% over the past year and authorities' interventions to slow the decline may only provide temporary relief, creating downside risk for EM assets, FX flows and oil-linked market volatility.