The Indian rupee is expected to weaken further against the US dollar over the next two fiscal years, pressured by elevated energy prices, global risk aversion and less favourable interest-rate differentials, while government measures to attract foreign capital should help contain the pace of depreciation, BMI, a Fitch Solutions Company, said. BMI expects the rupee to weaken to Rs 97 per US dollar by the end of FY2026-27, which runs from April 2026 to March 2027, and to Rs 99 per dollar by the end of FY2027-28, from Rs 95.4 currently. The currency has already weakened by about 4 per cent since the start of the US-Iran conflict, with higher energy prices and a broader risk-off environment weighing on the rupee, the research firm said in a note. India's heavy dependence on imported energy is likely to remain a key source of pressure. The country imports about 90 per cent of its oil requirements, meaning sustained increases in Brent crude prices would raise the import bill and increase
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