In November, India's imports of Russian oil reached a five-month high, defying expectations that US sanctions would dampen such purchases. This surge suggests that Indian refineries continue to capitalize on discounted Russian crude, which could have implications for the global oil market and associated currency pairs. As the USD struggles against other currencies, traders are keeping a close eye on the impact of these import trends on exchange rates.
The persistent demand for Russian oil may influence the USD/INR exchange rate, with potential volatility as markets react to geopolitical developments. As India maintains its stance on Russian crude, the implications for the EUR/USD currency pair could also unfold, affecting trading strategies in the forex market. With these dynamics at play, investors are urged to monitor the situation closely for further market movements.
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Data Source: FX Killer Analysis Team Updated: 2025-11-28 15:20
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.