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The Economic Times

Markets / The Economic Times

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Indias soaring oil bill shows limits of RBIs rupee defense

India faces a widening current account deficit due to high oil import costs. The ongoing Iran conflict exacerbates this situation, impacting foreign inflows. The Reserve Bank of India's measures offer only temporary relief to the rupee. Economists predict a significant widening of the deficit, potentially leading to a balance of payments deficit for the second consecutive year.

31 Mar 2026 6:28 am