The Indian rupee is expected to open weaker on Thursday due to rising crude oil prices, which continue to put pressure on the Asian nation's terms of trade and currency. The 1-month non-deliverable forward indicated the rupee would open in the 92.18-92.22 range versus the U.S. dollar, after settling at 92.04 on Wednesday. With no signs of de-escalating in the Persian Gulf, disruptions to oil flows through the Strait of Hormuz are likely to persist. The Reserve ​Bank of India has been actively intervening in the foreign exchange market in recent sessions, selling dollars to curb pressure from the choppy oil prices. The attack on Iranian fuel oil tankers has revived fears of supply disruptions, highlighting the fragility of relief from relief due to the relief given by President Donald Trump's statements about deescalating the Iran war.