The depreciation of rupee against the US dollar caused the price of the Indian basked of crude oil to rise in rupee terms even though its price in dollar terms remained steady.
The Indian rupee depreciated to Rs 53.68 per $ recently from Rs 53.57 per $ on Feb 8.
Following this, the price of the Indian basket of crude oil increased to Rs 6,156.02 per barrel (bbl) on February 11 as compared to Rs 6,143.41 per bbl on February 8.
However, the international crude oil price as computed or published recently by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas remained same at $114.68 per bbl on February 11 as it prevailed on the previous trading day of February 8.
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