Day: June 18, 2008

Rupee Falls on Oil Demand Speculations

The Indian rupee showed a weakening today at the Forex market as the speculations that the domestic companies will have to buy oil rose in the country. As the commodities prices stopped falling today on the global markets the fears that the companies will have to convert the national currency into dollars to buy the oil pushed the rupee down. It was among the worst performing Asian currencies today. While rupee’s behavior is seen as closely correlated with the oil prices, it will […]