New Delhi, April 7 -- India's currency outlook is increasingly tied to the trajectory of crude oil price, Axis Bank's chief economist Neelkanth Mishra said, cautioning that the rupee could weaken to 100 per dollar if oil stays above $110 per barrel.

In a worst-case scenario, the rupee's depreciation could be significant. However, the central bank's recent intervention in currency markets is expected to delay rate-based support for the currency by 1-2 months, Mishra said at a Kotak Private event in Mumbai on Tuesday.

His comments come at a time when the local unit has fallen by 4.5% against the dollar since the war in West Asia began on 28 February, and 11% in FY26, hitting an all-time low of 95.1250 per dollar on 30 March. It later pare...