Rupee could fall to 100/dollar if oil stays above $110/barrel: Neelkanth Mishra

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.