A 10 per cent spike in crude prices can result in a 0. Besides stronger crude oil prices, weakness in Asian currencies weighed on rupee," V K Sharma, Head PCG & Capital Markets Strategy, HDFC Securities, said.86.56 per cent at 70.2590 and for rupee/100 Japanese yen at 62.86, down by 323. Mumbai: The rupee on Thursday slumped 39 paise to close at more than six-week low of 70. At the Interbank Foreign Exchange, the rupee opened sharply lower at 70."Rising crude and Dollar Index weighed on the rupee.82 points, or 0. Saudi Arabia39;s comments that it sees no immediate need for intervention in the oil market also fuelled the rally even as the US data showed larger-than-expected increase in oil stockpiles.9418 and for rupee/euro at 78.

Global benchmark Brent breached the [...]

86 a litre and diesel Rs 74.Fuel station of public sector oil retailers have already started the process of calibrating their dispensing machines to take care of three digit petrol prices.New Delhi: Brace yourself to pay Rs 100 for a litre of petrol in the New Year. There is sense with pump owners that Rs 100 petrol may soon be a reality.Interestingly, the fuel station of public sector oil retailers have already started the process of calibrating their dispensing machines to take care of three digit petrol prices.Petrol is being retailed Rs 82.With global analysts and reports of major oil trading houses now suggesting that international oil prices may breach $100 mark by the end of the year or early next year, retail prices of petrol and diesel have no [...]

India had switched to a daily price revision in June 2017 from a revision every two weeks, as the government allowed retailers to set prices.But the government faced protests last October when retailers raised prices by up to 10 rupees a litre after the crude oil price went above USD 80 a barrel, forcing it to cut fuel taxes.Global prices rose to their highest level in 2019 on Thursday, days after the United States announced all Iran sanction waivers would end by May, pressuring importers including India to stop buying Tehran’s oil.Higher oil prices will mean Asia’s third largest economy is likely to see growth of less than 7 per cent rate this fiscal year, economists said.

Growth slowed to 6.6 per cent in the October-December quarter, the slowest in five [...]