Rupee may hit 97.5 if oil prices stay high
pre-market1 source ↓written by the desknot a recommendation
- With crude near
- $130 per barrel
- monthly bill
- 80-85%
- could slide
- 97 or 97.5
Anindya Banerjee from Kotak Securities indicated that the Indian rupee is under pressure due to rising crude prices and FPI outflows. With crude near $130 per barrel, India’s import costs have surged, increasing the monthly bill by 80-85%. If prices remain elevated, the rupee could slide to 97 or 97.5.
Not investment advice. For informational purposes only.