Mumbai: With rising crude oil prices in the international market pushing up the demand for dollars, the Indian rupee has slumped to a record low of 83.2675 vis-à-vis the U.S. dollar. Going ahead much will depend on oil prices in global markets which are now hovering around the $95 per barrel mark. Although the RBI has been releasing dollars in the market to prop up the rupee this has not been able to stem the slide of the Indian currency as the country imports around 85 per cent of its crude oil requirement for which immediate payments have to be made in dollars. “The RBI will be there to defend the rupee with its ample stock of foreign exchange reserves and ensure that overall volatility i
Hence then, the article about rupee faces risk from rising oil prices was published today ( ) and is available onNews room odisha ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( Rupee faces risk from rising oil prices )