Indian Rupee Snaps Eight-Day Rally as Oil Hits Highest Since May
📉 RUPEE — Eight days of gains wiped by one oil spike nobody can hedge. 📌 LOOK CLOSER: India imports 85% of its oil — every dollar on Brent hits the current account directly. The rupee's eight-day rally was built on RBI interventions; one Hormuz-driven price break erases that. New Delhi's silence on the conflict gets harder as import bills surge. The variable: how long RBI burns reserves before inflation forces a policy response.
