New Delhi, Aug. 2 -- Capital inflows and proactive measures by the Reserve Bank of India (RBI) helped limit the Indian rupee's decline in July, even as global crude oil prices surged more than 20 per cent amid escalating geopolitical tensions in West Asia, according to a Bank of Baroda (BoB) research report.

The report noted that the rupee depreciated by only 0.8 per cent in July, despite a sharp rise in oil prices, supported by a weaker US dollar, strong foreign capital inflows and RBI intervention in the foreign exchange market.

"INR traded cautiously in Jul'26 amidst an escalation in geo-political conflict. It depreciated by only 0.8% in the month even as oil prices increased by over 20% in the month," the report said.

According to ...