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India may look to lock in oil futures to stem rupee slide

Updated : September 21, 2018 11:37 AM IST

The move would be another step to tackle a slide in the rupee, as oil prices are putting pressure on India.
The rupee, Asia's worst performing currency this year, has depreciated about 12 percent year-to-date against the US dollar, closing at 72.39 on Wednesday, after a record low of 72.99 on Tuesday.
The government is expected to announce a set of measures to discourage non-essential imports to stem the slump in the currency.
India may look to lock in oil futures to stem rupee slide
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