 "Rupee settles below 70 after three months, crude oil slides further")
In a sign that the rupee’s new-found strength could stay for a while, exporters on Thursday were seen selling dollars after the domestic currency strengthened below 70 a dollar level, buoyed by a bullish stock market.
It is also clear that the rupee’s fortunes are intrinsically linked to oil prices. The recent drop in oil prices – from $83 to below $60 a barrel now – may have saved India at least $30 billion in oil bills, said experts. India imports about 1.2 billion barrels of oil every year.
On Thursday, oil prices bounced back, erasing an early loss, after
