The rupee today tumbled to a low of 67.48 before closing at fresh 15-month low of 67.27, down by 15 paise against the US currency, due to growing concerns over surging crude prices and foreign capital outflows. This is the lowest closing for the rupee since February 7, 2017 when it had settled at 67.41 against the dollar. The Brent North Sea crude touched USD 77.20 dollars -- the highest level since November 2014. The West Texas Intermediate hit USD 71.17 which was the highest in more than three years. Sanctions, if imposed, would take out around one million barrels of crude supply from the market, according to analysts.

Source: dna May 09, 2018 13:50 UTC