Profit

Oil cos benefit from rising rupee

PUBLISHED ON: September 25, 2007 | Duration: 2 min, 36 sec

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Oil is at a record high, it crossed $82 a barrel and even the crude mix that Indian companies buy called the Indian basket hit its peak this year crossing $77.So why is the government holding off from an oil price hike? Because the rupee has surged against the dollar and a cheaper dollar means cheaper crude, here is how the numbers stack up.
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