Indian Rupee Poised to Retest 91 Amidst Escalating Middle East Tensions

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Rupee to Retest 91-Level Amidst Middle East Tensions, Oil Price Surge Looms

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Moneycontrol•02-03-2026, 07:01

Rupee to Retest 91-Level Amidst Middle East Tensions, Oil Price Surge Looms

•Indian rupee likely to breach Rs 91 per dollar mark due to escalating geopolitical tensions in the Middle East.
•US-Israel attack on Iran, claiming Supreme Leader Ayatollah Ali Khamenei's life, has heightened global market stakes.
•Brent crude prices, currently at $72-$73, are expected to spike, negatively impacting India's import bill and current account deficit.
•Persistent foreign outflows and higher oil prices are weighing on the rupee, making it the worst-performing currency among emerging Asian peers.
•RBI is actively intervening in spot and NDF markets, selling forex reserves to prevent the rupee from depreciating beyond Rs 91.

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