USD/INR: Break below 94.00 on flows – Societe Generale

FXStreetNov 10, 2026 12:50 PM

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Societe Generale’s Kenneth Broux and co-authors highlight that the decline in Brent below $90 supports India’s terms of trade and coincides with stronger portfolio inflows into FAR‑eligible bonds and equities.

Rupee gains with Oil tailwind

"USD/INR trades below 94.00 for the first time since April and USD/MXN extends below 18.50 which has more to do with the rebound in stocks than slump in energy prices."

"The decline in Brent below $90/b is bolstering the terms of trade of India but has also been accompanied by a sharp improvement in portfolio flows."

"Together, those factors have helped deflate USD/INR below 94.00 for the first time since April."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

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