Anindya Banerjee, Head of Research- Currency, Commodity and Interest Rate Derivatives, Kotak Securities said Brent, currently around $113, could rise to $120–$130 if disruption continues, worsening rupee pressure via FPI outflows and speculative selling. Exporter repatriation flows may support in late March, but oil and Hormuz remain key triggers. If tensions ease by mid-April, both crude and rupee could stabilise.
