By CNBC-TV18 Sept 18, 2018 1:00:57 PM IST (Updated)
A weaker rupee makes imports expensive and exports cheaper in dollar terms. Indian airlines, which imports jet fuel from other countries, are therefore likely to face the heat of slump in local currency.
The rupee has fallen about 12 percent so far in 2018, making it the worst-performing Asian currency this year.
The Indian currency has been under immense pressure due to the soaring global crude oil prices, which pose a serious threat to the country’s finances as India imports 80 percent of the crude oil it needs.
A weaker rupee makes imports expensive and exports cheaper in dollar terms. Indian airlines, which imports jet fuel from other countries, are therefore likely to face the heat of slump in local currency.