Oil prices, rupee value to influence equity indices
Updated : May 22, 2018 01:15 PM IST
As per the latest estimates of the Finance Ministry, the rise in oil prices may inflate India's import bill by around $ 25 billion to $ 50 billion. The surge has already pushed the cost of petrol in the national capital to Rs 75.32 per litre.
Besides, the rupee's price movement against the US dollar will also be crucial for the market, especially in the backdrop of a continuous outflow of foreign funds.
On a weekly basis, the Indian rupee weakened by 68 paise to close at 68.01 against the US dollar from its previous close of 67.33 per greenback.
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