India's central bank support gives rupee respite, but oil risks loom

CurrenciesEnergy price impact of U.S.-Iran war continues to weigh on the currencyIn June, India's central bank announced a host of measures to help strengthen the rupee, including hedging incentives for banks to attract more foreign currency deposits from nonresident Indians. © ReutersSOUMYAJIT SAHAJuly 29, 2026 15:10 JSTMUMBAI -- The rupee, among the worst currency performers in Asia, is expected to stabilize after a spate of actions by India's central bank to provide structural support. But whether the currency actually does so in the coming months will hinge on the movement of oil prices.