₹ vs US$
India spends more dollars to pay for its fuel needs, 80% of which is met through imports. This stress is sinking the rupee, while the country’s finances and macro-economy take a beating, in turn dragging down the currency further. Of late, global crude oil prices have been on a steady ascent, straining the India’s finances. In October, Brent crude oil prices breached the $85-per-barrel level for the first time in over four years and there are concerns that the $100-level may not be too far.
- The Indian rupee impaired this week by 0.15 paisa compared with previous week close.
- Last week Indian rupee closed at ₹73.32 with a gain of 0.24 paisa
- This week on Friday rupee closed at ₹73.46 with loss of 0.18 paisa
- Highest gain 0.41 paisa on 24th Oct. 2018 and highest fall 0.24 paisa on 22nd Oct. 2018
