Rupee on crude oil hitting 14-year high and diving equities owing to the geo-political crisis has depreciated to its lowest against the dollar. The rupee at day's low hit 76.96 per US dollar. While at day's high it traded at a price of 76.79 per US dollar. In the previous trading session, rupee closed at 76.1675 per US dollar.
On looming concerns the US government is considering to cut oil and other commodities trade from Russia, crude in overnight trade hit levels of close to $140 per barrel. Also, the delays in the possible return of Irania crude to global markets raised supply concerns.
The imported inflation will also widen the country's current account deficits as well as trade deficit.
Meanwhile, Indian equities too on weak global cues including the Ukraine-Russia war tumbled with Nifty sinking to 15741 at day's low.
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