India, April 9 -- The Reserve Bank of India (RBI) on Wednesday said it expects crude oil prices to average $85 per barrel and the rupee to be at 94 against the dollar in FY27.The central bank has made the projections in the bi-annual Monetary Policy report released on Wednesday.

The crude oil price assumption has been upped to $85 per barrel during FY27, from $70 per barrel during H2FY26. It also increased exchange rate projections to 94 against the US dollar during FY27, from 88 against the greenback during H2FY26, report showed.

"The baseline assumption for crude oil price has been taken at $85 per barrel for FY27 and $75 per barrel for FY28, in line with average Brent future prices," RBI said in a report.

The report added that the I...