Indian rupee posts 1st quarterly gain since March 2025
Business
The Indian rupee just notched its first quarterly gain since March 2025, ending June at 94.66 per US dollar.
That's a small but welcome bounce, up 0.2% this quarter after hitting record lows in May.
The main boost? Oil prices have dropped sharply, which is great news for India since it imports most of its oil.
Analysts expect balance of payments surplus
With oil now much cheaper and Goldman Sachs raising India's growth outlook for 2026, things are looking up: analysts expect a balance of payments surplus this year too.
But the rupee still faces headwinds: a stronger US dollar, portfolio outflows, and low foreign exchange reserves are likely to keep any big gains in check for now.