The rupee’s depreciation was reportedly limited as exporters rushed to sell US currency after falling oil prices. At the same time, this is due to the huge change in oil prices. Prices, which depend on local tax events like VAT, may rise in the next few days as Indian oil companies make up for losses by holding prices for a record 137 days.
According to Crisil Research, an increase of US $ 30 per barrel in the price of crude oil requires an increase of Rs 15-20 per liter. As a result, the Indian rupee has depreciated against the US dollar, making imports more expensive. International oil prices have started to rise again this year, reaching a 14-year high of US 140 140 earlier this month. Brent traded at 8 118.59 a barrel on Tuesday.
On the other hand, those who have ordered Indian Rupees in the US should look at these rates. If money is ordered from India at the rate of Rs 100, it will be only 3 1.31 in America. At the same time, the value of one dollar sent from America will be 76.08 rupees in India.