“The Indian Rupee is expected to remain under depreciation pressure in the near to medium term, despite temporary relief from RBI interventions. This bearish outlook is driven by structural headwinds such as escalating Middle East conflict, high crude oil prices (Brent above $110, WTI above $100), significant FPI outflows (₹1,12,000 crore in March), and global rate hikes strengthening the dollar index. The RBI's ability to intervene indefinitely is limited, and year-end dollar demand further exacerbates the pressure.”

Naveen Mathur’s track record: 3 graded calls · 95% CI 21–94%