India's central bank support gives rupee respite, but oil risks loom
CurrenciesIndia's central bank support gives rupee respite, but oil risks loom
Energy price impact of U.S.-Iran war continues to weigh on the currency
In 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. © Reuters
MUMBAI -- 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.
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