Brent crude oil prices crossed the $65 per barrel mark for the first time in three months on Friday putting pressure on rupee which closed at 71.23 against the USD, down 0.1 per cent and the premier benchmark indices at BSE and National Stock Exchange falling by 0.2 per cent on Friday.
While a decline in Brent crude oil prices to levels of around $50 per barrel by the end of December 2018 had offered a big relief to rupee and the domestic currency strengthened to trade between 69 and 70 against the USD towards the December end and first week of January, a sharp rise in crude oil prices over the last one month has pushed the rupee back to levels of 71 against the dollar. Read More
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