The Indian rupee is currently Asia’s worst-performing currency of 2025. It is also on track for its largest annual decline since 2022 — the year Russia’s invasion of Ukraine sent oil prices soaring past $100 per barrel, dealing a major blow to India, which imports about 90% of its crude.
This year’s weakness, however, has been driven by higher US tariffs on Indian exports and an exodus of foreign investors from the local stock market.
