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Foreign fund outflows and losses in local equities, however, restricted the rupee's gains, forex dealers said.
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The dollar gained on expectations that the US Fed may hike interest rates one more time this year.
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Dombrovskis said the EU is looking at making sure that its trade and investment cooperation with India becomes "much more intense".
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Levy on diesel became nil in April but the levy was brought back in August. Levy on ATF became nil in March and has now been brought back.
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Forex traders said the rupee opened on a flat note as losses in dollar index, and positive Asian currencies supported sentiments, while rise in crude oil prices dented investors.
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Crude oil futures on Thursday declined by 0.1 per cent to Rs 6,690 per barrel as participants trimmed their positions on low demand.
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KT Rama Rao lashed out at the BJP-led NDA government for reducing the Windfall tax on crude oil rather than transferring the benefit to people
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At the fourth fortnightly review, the government raised the windfall profit tax on the export of diesel to Rs 13.5 per litre from Rs 7 per litre.
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New Delhi: The government on Wednesday scrapped a week-old tax on the export of petrol and cut windfall taxes on overseas shipment of diesel and ATF as well as the one imposed on domestically produced crude oil after global oil prices fell. While the Rs 6 a litre export duty on petrol was scrapped, the […]
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New Delhi: The Indian rupee nearing 80 to a US dollar will make imports of items from crude oil to electronic goods, overseas education and foreign travel costlier while raising fears that the inflation situation could worsen. The primary and immediate impact of a depreciating rupee is on the importers who will have to shell […]
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New Delhi: Erasing two-day of losses, Indian stock indices gained marginally in early trade on Wednesday. The latest softening of global crude oil prices and signs of inflation slowly receding are likely to have lent support to the equity markets. Global crude oil prices have fallen below the psychological level of $100 per barrel after […]
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New Delhi: India’s crude oil production in March 2022 fell to 2,526.11 thousand metric tonnes (TMT), which is 12.49 per cent lower than the target for the month and 3.37 per cent lower than the output recorded during the same month in 2021, the government data showed on Wednesday. Cumulative crude oil production during April-March, […]
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Hyderabad: The Indian Crude Free on Board (FOB) price dropped to $97.82 per barrel on Monday at a rupee-dollar exchange rate of 75.96 per dollar. The price is down about 5 per cent since April 1, when the Indian crude basket price was $103.02 per barrel (at exchange rate of Rs 75.81). Indian Basket (IB), […]
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New Delhi: The common man is likely to suffer more with the rising prices of commodities with the most recent blow being the rise in the price of the domestic cooking gas cylinder (LPG). The cylinder got dearer by Rs 50 while the prices of petrol and diesel have risen by 80 paise each per […]
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By Amy Myers Jaffe Russia produces close to 11 million barrels per day of crude oil. It uses roughly half of this output for its own internal demand, which presumably has increased due to higher military fuel requirements, and it exports 5 million to 6 million barrels per day. Today, Russia is the second largest […]
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New Delhi: Petrol and diesel price hikes are likely to resume after State elections get over next week to bridge the Rs 9 a litre gap created by international oil prices soaring past $100 a barrel. International crude oil prices shot above $110 a barrel for the first time since mid-2014 on fears that oil […]
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Hyderabad: In recent times, fuel prices have become rock steady and there was no revision of prices. Does it mean the international crude oil prices have become stagnant? Not necessarily! On the contrary, the crude oil prices are skyrocketing and are almost touching $100 per barrel. Currently, the price is hovering around $96-97, breaching the […]
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The world’s third largest oil importer, India, has decided to release 5 million barrels of crude oil from its strategic reserves in a concerted effort with other major oil-consuming nations such as the US, Britain, Japan, China and South Korea, to bring down global crude oil prices, which breached $85 a barrel mark last month. […]
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New Delhi: India will release 5 million barrels of crude oil from its emergency stockpile in tandem with the US, China, Japan, and other major economies to cool international oil prices, the government announced on Tuesday. This is the first time ever that India, which stores 5.33 million tonne or about 38 million barrels of […]
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Hyderabad: There is a bigger game plan behind the recent decision of the Union Government in reducing the excise duty on petrol and diesel by Rs 5 and Rs 10 per litre respectively. While the reduction is too little and too late considering the astronomical rise in fuel prices in the recent times, the Centre […]
