“Currently, it seems that the rupee is trying to head towards 96.5 levels. I will not even rule out 97-odd levels,” said Ritesh Bhansali, deputy chief executive officer at Mecklai Financial Services. For the financial year-end, “I would take an average of around 94.50-95.00 because even if the rupee goes to 97 or 98 levels through the year, it will not sustain.” His assumptions are based on the Indian crude basket averaging $80-90 per barrel in FY27.
