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The prices of crude oil have been rising in the world markets primarily due to sanctions on Iran and a major production cut in Venezuela. The RBI calculated these exchange rate for various foreign currency which is valid for transactions across the country on certain pre-specified parameters. If need be these contracts can be rolled over and avoid use of physical currency. If nothing works, this can be the last resort to prop up rupee value. With this makeover, we also take a small step into social media. But it is not advisable to use interest rate as a tool to protect rupee as higher interest rates have other negative implications for the economy. Read this article in: Higher import duties The government has earlier used the higher import duties route especially on gold as a measure to reduce the imports. Hike in repo rate: The unanticipated cut is expected to be welcomed by Prime Minister, Narendra Modi, ahead of India forex rates rbi elections as it should prompt an increase in lending india forex rates rbi, if successful, a uptick in growth. More demand for oil in India means spending more rupees to buy dollars for the purchase of the black gold and putting additional burden on the currency in return. Pound To Rupee?




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