Indian rupee posts first quarterly gain in five as oil slump eases import bill

Falling crude prices and supportive policy have allowed the rupee to appreciate roughly 0.4% quarter-on-quarter, marking the first such gain since March 2025.

By Handelsavisen Newsroom · Automated 2026-06-30 11:06 UTC · 1 min read

The Indian rupee has secured its first quarterly appreciation in five periods, closing the quarter with a modest gain against the US dollar.

The currency ended the session at 94.66 per dollar, reflecting a broader shift in cross-asset dynamics driven by softer energy costs.

This marks a notable reversal for the rupee, which has faced persistent depreciation pressure over the past year.

The primary catalyst for the rupee’s recovery is a sustained decline in global oil prices.

As India remains one of the world’s largest crude importers, lower benchmark prices for Brent and WTI have significantly reduced the country’s import bill, alleviating strain on the current account.

This improvement in the trade balance has provided a structural floor for the currency, allowing it to stabilize and appreciate despite broader emerging-market volatility.