https://www.taxtmi.com/news?id=72876 Sharp depreciation of the Indian rupee is attributed to elevated crude oil prices, sustained foreign portfolio outflows, widening trade deficits and broad US dollar strength. India's heavy dependence on imported oil increases dollar demand, while rising gold imports and higher overall imports widen the current account gap and add pressure on the currency. Reserve Bank of India intervention can smooth volatility, but it cannot fully offset structural pressure from oil costs and capital outflows. en-us Tue, 19 May 2026 17:46:04 +0530 Tue, 19 May 2026 17:46:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=72876 Sharp depreciation of the Indian rupee is attributed to elevated crude oil prices, sustained foreign portfolio outflows, widening trade deficits and broad US dollar strength. India's heavy dependence on imported oil increases dollar demand, while rising gold imports and higher overall imports widen the current account gap and add pressure on the currency. Reserve Bank of India intervention can smooth volatility, but it cannot fully offset structural pressure from oil costs and capital outflows. News - Tue, 19 May 2026 17:46:04 +0530 https://www.taxtmi.com/news?id=72876