Rupee's Best Week in Months as RBI Holds the Fort, but Oil and Fed Loom

The Indian rupee just posted its strongest weekly gain in four months, closing at ₹95.38 against the dollar on Friday after a 0.9% rally. The currency has been buoyed by aggressive RBI intervention, a weakening US dollar, and a temporary dip in crude oil prices — a rare trifecta that gave the rupee some breathing room after months of pressure.

Headwinds

• Oil price volatility: Crude surged 7% in a single day earlier this week as Middle East tensions...