 "oil, oil prices, brent crude, oil crisis, currency depreciation, iran oil crisis, global oil, oil firms, economy")
With the US Federal Reserve raising rates, and the oil prices rising above $80 barrel after the recent OPEC meeting, there will be further pressure on the Rupee. That the rupee overshot by reaching Rs 72-73 to the USD, as some have argued, is wishful thinking.
The rupee had been stuck at around Rs 64-65 to the USD for almost three-plus years after recovering from a drop to Rs 70 during the taper tantrum in August 2013. But with Indian inflation well above that of its major trading partners RBI’s real effective exchange rate (REER 2005=100) index shows that the
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