Kotak Securities Cautions on Rupee's Potential Depreciation Amid Oil Price Surge

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Rupee Plunges to Record Low Amid Oil Shock, Kotak Warns of Further Depreciation

Kotak warns currency may face further depreciation. File/Reuters

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Firstpost•05-03-2026, 11:51

Rupee Plunges to Record Low Amid Oil Shock, Kotak Warns of Further Depreciation

•Indian Rupee hits record low near 92.30 against US Dollar due to soaring crude oil prices and global dollar liquidity crunch.
•Kotak Securities warns of continued rupee depreciation if crude oil prices remain elevated amid West Asia tensions.
•Anindya Banerjee attributes USD/INR surge to rising oil and global dollar shortage, citing Iran-US-Israel conflict.
•RBI expected to intervene to curb volatility, but rupee pressures persist as long as crude prices are high.
•India monitors Strait of Hormuz; holds 8 weeks of oil inventory and diversifies imports to manage supply disruptions.

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