INSUBCONTINENT EXCLUSIVE:
rupee opened strong at 69.63 a dollar and touched a high of 69.53 in early trade
The local currency erased its gains and dropped to a low of 69.83 as crude oil prices extended their Monday's rally, triggering inflationary
waivers that let countries like India buy Iranian oil without facing US sanctions
Analysts said oil prices have gained on fears that markets might face an immediate supply crunch following the US decision while oil
pose a fresh risk to the fiscal math, if subsidies return, by extension requiring higher borrowing, said the duo, a report by Economist
crude oil prices by 10 per cent under ceteris paribus conditions could translate into the current account deficit increasing by 0.4-0.5 per
recover its lost ground at the fag-end
following the US move to end sanction waivers, and will use alternative supply sources such as Saudi Arabia to make up for the lost volumes,
top officials and industry sources said Tuesday
80.30 points, or 0.21 per cent, lower at 38,564.88
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