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The rupee plunged to a file low of 77.41 towards the US greenback on Monday amid persisting excessive crude oil costs and uncertainty over the period of the Russia-Ukraine warfare.
On the interbank international foreign money market, the rupee hit a low of 77.41 towards a US greenback in intra-day commerce on Monday towards its earlier shut of 76.93.
The rupee has weakened sharply over the previous few months as a consequence of a pointy rise in crude oil costs within the worldwide markets.
The Brent crude oil worth surged to close $130 a barrel in March, the best degree since 2008. Presently, Brent crude oil is priced at $113.
As a result of excessive crude oil costs, India’s commerce and monetary deficits are anticipated to rise, and can put growing strain on the Indian foreign money.
On February 24, Russia launched a navy operation in Ukraine, three days after recognising the Ukrainian breakaway areas of Donetsk and Luhansk as “impartial republics”. The Russian Ministry of Protection maintains that the operation is concentrating on Ukrainian navy infrastructure solely.
The Brent crude oil worth surged to close $130 a barrel in March, the best degree since 2008. Presently, Brent crude oil is priced at $113.
As a result of excessive crude oil costs, India’s commerce and monetary deficits are anticipated to rise, and can put growing strain on the Indian foreign money.
On February 24, Russia launched a navy operation in Ukraine, three days after recognising the Ukrainian breakaway areas of Donetsk and Luhansk as “impartial republics”. The Russian Ministry of Protection maintains that the operation is concentrating on Ukrainian navy infrastructure solely.
In response, Western nations imposed complete sanctions towards Russia.
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Printed on: Monday, Might 09, 2022, 12:01 PM IST
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