# Rupee to trade at 94.75-95.75/USD in near term, oil prices to determine movement: BoB Report

> Bank of Baroda expects the rupee to trade between 94.75 and 95.75 per dollar in the near term, with crude oil prices the main driver. The rupee fell in October on higher oil prices, rising global yields and foreign portfolio outflows before RBI measures supported it.

- Date: 2026-11-04 · published 2026-11-04T09:09:44.300Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/79498-rupee-to-trade-at-94-75-95-75-usd-in-near-term-oil-prices-to-determine-movement
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher oil prices weigh on India's import bill and currency, which can reduce demand for imported feed inputs and affect Indian buying of commodities.

## Read by commodity

- WTI: neutral
- BRENT: neutral
- USDINR: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-10-26 | [Rupee falls for third straight session, ends at 95.19 as oil prices and importer demand weigh](https://feedsoft.ai/events/17312-rupee-falls-for-third-straight-session-ends-at-95-19-as-oil-prices-and-importer.md) | -3.2% | — |
| WTI | 2020-12-03 | [Why the OPEC+ agreement to boost production in 2021 didn’t tank oil prices - MarketWatch](https://feedsoft.ai/events/49827-why-the-opec-agreement-to-boost-production-in-2021-didn-t-tank-oil-prices.md) | +0.5% | +7.0% |
| WTI | 2020-09-30 | [Arab News \| Oil prices ‘likely to remain static despite output cuts’](https://feedsoft.ai/events/51279-arab-news-oil-prices-likely-to-remain-static-despite-output-cuts.md) | +3.7% | +0.8% |
| WTI | 2024-12-31 | [Baht, oil prices expected to face volatility in 2025: NESDC](https://feedsoft.ai/events/27244-baht-oil-prices-expected-to-face-volatility-in-2025-nesdc.md) | +4.6% | +1.9% |
| WTI | 2017-12-01 | [Crude oil prices to be under pressure in first half of 2018: S&P](https://feedsoft.ai/events/67647-crude-oil-prices-to-be-under-pressure-in-first-half-of-2018-s-and-p.md) | -1.5% | +5.3% |
| BRENT | 2020-12-03 | [Why the OPEC+ agreement to boost production in 2021 didn’t tank oil prices - MarketWatch](https://feedsoft.ai/events/49827-why-the-opec-agreement-to-boost-production-in-2021-didn-t-tank-oil-prices.md) | +1.7% | +7.3% |
| BRENT | 2020-09-30 | [Arab News \| Oil prices ‘likely to remain static despite output cuts’](https://feedsoft.ai/events/51279-arab-news-oil-prices-likely-to-remain-static-despite-output-cuts.md) | +3.1% | -0.6% |
| BRENT | 2024-12-31 | [Baht, oil prices expected to face volatility in 2025: NESDC](https://feedsoft.ai/events/27244-baht-oil-prices-expected-to-face-volatility-in-2025-nesdc.md) | +4.2% | +4.6% |

## Sources

- bfsi.economictimes.indiatimes.com: https://bfsi.economictimes.indiatimes.com/news/banking/rupee-to-trade-at-94-75-95-75/usd-in-near-term-oil-prices-to-determine-movement-bob-report/135527555
- tribuneindia.com: https://www.tribuneindia.com/news/business/rupee-to-trade-at-94-75-95-75-usd-in-near-term-oil-prices-to-determine-movement-bob-report/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.