Rupee slides as oil shock deepens and outflows strain markets central bank may intervene

Brent surged nearly 50 percent since the war began

The rupee has extended its slump as oil prices surge, dragging down currencies across oil-importing economies. Brent crude has jumped nearly 50% since the Iran war began, raising import costs and worsening outflow pressure. The Philippine peso and Indonesia’s rupiah are also under strain, with the rupiah hitting a record low, as traders watch for central bank action.