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Rupee depreciation raises oil price of Indian Basket

Posted on Feb 12, 06:57PM | IBNS

New Delhi, Feb 12 : The international crude oil price for Indian Basket as computed/published on Tuesday by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas remained same at USUSD 114.68/barrel (bbl) on Feb 11 as it prevailed on the previous trading day of Feb 8.

In rupee terms, however, the crude oil price of increased to Rs 6156.02 /bbl on Feb 11 as compared to Rs 6143.41/bbl on Feb 8.

This was due to rupee depreciation.

Rupee dollar-exchange rate on Feb 11 at Rs 53.68/USUSD against Rs 53.57/USUSD on previous trading day of Feb 8.