# The Reserve Bank of India said it expects crude oil prices to average $85 per barrel and the rupee to be at 94 against the dollar in FY27.

*business · news · 2026-04-08 · Outlook Business*

## Key points

- RBI now projects crude oil prices at $85 per barrel for FY27, up from $70 for H2FY26.
- The rupee is expected to average 94 per US dollar in FY27, up from 88 in H2FY26.
- Crude oil prices dropped to $63 per barrel in late 2025 but surged past $100 in March 2026.
- The rupee posted its largest annual decline in 14 years in FY26, depreciating 9.88% against the dollar.
- INR breached 95 per US dollar intraday in March 2026 amid West Asia conflict concerns.

**Countries:** India

[Read the full story on Outlook Business](https://www.outlookbusiness.com/economy-and-policy/rbi-ups-crude-oil-exchange-rate-baseline-assumptions-for-fy27)

---

Canonical: https://newsio.io/n/a1b1c8f4-4ddc-4be8-b840-1e8c5ad829bf/the-reserve-bank-of-india-said-it-expects-crude-oil-prices-to-average-85-per-bar
Summarized by Newsio from Outlook Business. https://newsio.io/how-it-works