Mumbai, July 7 -- A steep fall in crude oil prices following easing of tensions in West Asia may not be enough to help the Indian rupee appreciate, according to eight top economists polled by Mint.

Most expect the rupee to remain range-bound at 94-96 against the US dollar in the near term before gradually weakening again by March 2027.

Between the beginning of the war on 28 February and the signing of a memorandum of understanding (MoU) between the US and Iran on 17 June, crude prices were highly volatile, touching levels of $114 per barrel in May before falling to around $72 after the ceasefire, data from Bloomberg showed.







During this period, the rupee depreciated more than 3% to hit a record-low of 96.82 against the US dollar o...