The rupee fell to its lowest ever against the dollar on the back of a stronger dollar overnight and higher oil prices.
In the rupee inching closer to 70 - mark
Currency slips on volatile oil
Oil prices have risen mid 2017 , deepening concerns about india's current account deficit and inflation
Invester are now awaiting the fiscal deficit data from the government due to be released on friday dt 22/06/2018
. Oil prices have rallied for much of 2018 on tightening market conditions due to record demand and voluntary supply cuts led by the middle east dominated producer cartel ,the organisation of the Petroleum exporting cointries.
. The rupees's fall, however is expected to help exporters.Shares of software services exporters such as Infosys rose 1.6% while textile exporters such as Arvind ltd gained 0.7% .Moody's invester dervices said india is among the five countries that are least vulnerable to currency pressure amid strengthening of th US Dollar
Dr.aman kumar
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