The rupee’s slump has contributed to inflation because India buys 80 percent of its oil from overseas and pays for supplies in US dollars. Every one-rupee drop in the domestic currency against the dollar boosts annual revenue losses for the three government-owned refiners by 80 billion rupees (US$1.4 billion), the Indian Ministry of Petroleum and Natural Gas said in November last year.
Mon, Jun 25, 2012 - Page 15 News List
India mulls action on fall in rupee value
TAKING ACTION:The Indian currency has been the weakest in Asia over the past year, falling 21 percent against the US dollar, which has pushed up inflation in the country
This story has been viewed 3446 times.
Comments will be moderated. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned.
Listing from 2015-09-29 to 2015-10-06
- Most read
- Most e-mailed
1Typhoon Dujuan rips through nation
2Water supply disrupted in Taipei
3Storm brews over second typhoon day
4Vet cyclists hit the road for rabies prevention
5KMT facing a potential split: sources