US Iran Tensions Put India’s Rupee Back Under Pressure as Oil Climbs The recent surge in global oil prices, fueled by tensions between the United States and Iran, has put renewed pressure on India's rupee.
As crude continues to rise, the Indian currency is struggling to maintain its value, echoing past struggles with economic instability.
In 2013, the Reserve Bank of India (RBI) implemented various interventions, including raising interest rates, selling dollars on the open market, and imposing capital controls, which helped calm market nerves and stabilize the rupee.