www.livemint.com ·
Rupee May Slide to 96 98 by December End Amid Oil Shock Mint Poll
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AI insight
AI-generatedThe Indian rupee is under pressure from a double shock: surging crude oil prices (Brent at $121.90) due to US-Iran war, and foreign portfolio outflows. The pass-through channel is oil import cost, widening the current account deficit and weakening the currency. RBI intervention via reserves is limited. The impact is India-specific, with direct FX and oil price exposure.
Signals our AI researcher identified
Extracted by our AI model from this article and related public sources — not direct quotes from the publisher.
- Indian rupee hit record low of 95.80 per USD, closing at 95.66.
- Mint poll of 10 institutions predicts rupee at 96-98 per USD by December 2026.
- Brent crude surged to $121.90 per barrel amid US-Iran war.
- RBI foreign exchange reserves fell to $690 billion since conflict began.
- FPIs withdrew nearly ₹1.8 trillion from Indian equities in FY26.
Brent to stay elevated $120-130 as war disrupts supply chains.
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Sector impact at a glance
- COMMODITY_OILmid
- COMMODITY_OILshort
- EM_MARKETSmid
- EM_MARKETSshort
- FX_EMmid
- FX_EMshort