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Listen to this article in summarized format The rupee has depreciated 5% this calendar year, with further weakness likely despite sustained Reserve Bank of India (RBI) intervention, as external pressures remain beyond the central bank's control. The rupee is the fourth-worst performing currency in Asia this year, with the Indonesian rupiah the weakest, Bloomberg data showed. The Indonesian currency fell 7.3% while the South Korean won was the best performer, gaining 8.5%. The Chinese yuan gained 4.6% this year. Read more: WhatsApp stock tips: Nithin Kamath warns of more pump-and-dump schemes as ED freezes accounts worth Rs 200 crore Additionally, with Brent crude prices hovering near $105 a barrel, further rupee depreciation would be a natural consequence of a higher oil import bill, economists said. As one of the world's largest oil importers, India remains vulnerable to elevated crude prices, which add to inflationary pressures and weigh on the currency. Persistent foreign portfolio outflows are compounding the pressure, with sustained selling of Indian assets adding to dollar demand and reinforcing expectations of further rupee weakness. Read more: Jio IPO vs Airtel shares: Which telecom giant offers greater valuation comfort to investors? "Despite the recent measures, we see limited room for sustained INR appreciation on grounds of manufacturing and trade competitiveness. A challenging portfolio flows outlook leaves the door open to further gradual rupee depreciation, with high sensitivity to oil price movements and risk sentiments," Radhika Rao, senior economist at DBS Bank said in an October 17 report. Recently, the RBI introduced a special window to meet the daily dollar requirements of three state-run oil companies diverting their purchases away from the spot market. It has also tightened rules on foreign-exchange derivatives to curb speculative dollar demand and excessive hedging. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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