Weak Crude Oil Prices May Cushion India Inc’s Brusies from Weaker Rupee
A strengthening dollar, particularly in a short span, worries investors as a weaker home currency makes import costlier and corporate India imports more than what it exports. But, a closer look at the nature of imports of India Inc reveals that this time around, the pressure of a weaker rupee – it has fallen by 3% in a month — may not be as acute.
This is because of the significantly lower price of crude oil, which forms nearly two-thirds of corporate India’s imports. Details