RBI’s March-end rupee support faces test from war and oil surge this year

March 20, 2026

Historically, the rupee strengthens by March 31 due to RBI intervention, benefiting corporate balance sheets. However, this year, elevated oil prices and geopolitical tensions have led to significant RBI dollar sales, potentially challenging this trend. Traders anticipate a close around 91.75-92.50 per dollar, with a weaker outcome if interventions decrease amid sustained high oil prices.

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