The Indian rupee is on track to record its first quarterly appreciation since March 2025, driven by a sustained decline in global oil prices and supportive monetary policy.
The currency has gained approximately 0.4% over the past month and is up about 0.2% for the quarter ending June 30, reversing a prolonged period of pressure.
This recovery comes as Brent crude prices have retreated to levels below those seen prior to the escalation of tensions with Iran.
The drop in energy costs has significantly eased India's import bill, providing a crucial tailwind for the rupee.
Market participants note that the cooling oil market has helped stabilize sentiment, allowing the currency to find footing despite broader regional volatility.
The rupee's strength is further bolstered by policy measures aimed at supporting the currency.