MUSCAT – Madhusoodanan R, Executive Advisor to the Board at Global Money Exchange, told The Arabian Stories that the rupee’s short-term outlook remains fragile. “The rupee touched a historic intraday low of 92.30 against the US dollar before closing at 92.15, but volatility is likely to continue in the short-term horizon under the prevailing global conditions,” he noted.
According to Madhusoodanan, the Indian currency has been under pressure for several months due to delays in finalising a trade agreement with the United States, while surging oil prices further strain India’s import bill.
Exchange houses in Oman offered ₹238.15 against one Omani rial on Wednesday, reflecting the rupee’s continued weakness. Market observers noted that crude prices, which climbed to $83 per barrel, along with geopolitical tensions, are expected to continue influencing the rupee’s performance in the coming days.
Dealers said traders and expatriates should brace for short-term volatility, as movements in oil markets and regional developments are likely to dominate the currency’s trajectory.
