{"id":350704,"date":"2020-05-11T11:46:03","date_gmt":"2020-05-11T06:16:03","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=350704"},"modified":"2020-05-11T12:32:25","modified_gmt":"2020-05-11T07:02:25","slug":"oil-crash-could-not-have-come-at-better-time-for-indias-rupee","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-crash-could-not-have-come-at-better-time-for-indias-rupee\/","title":{"rendered":"Oil crash could not have come at better time for India\u2019s rupee"},"content":{"rendered":"<p>There are very few positives for India\u2019s rupee at the moment, the plunge in crude oil prices is a major one.<\/p>\n<p>Cheaper oil could translate into $40 billion of savings for India, balancing the nation\u2019s current account, according to Bank of America. The last time the nation posted a current-account surplus was in 2004.<\/p>\n<p>As crude prices tanked, it brought relief for the world\u2019s third-largest oil consumer. The rupee rebounded about 2% from a record low touched last month, with a Bloomberg survey of analysts forecasting that it could rise another 1% by year-end to reach 74.74. <\/p>\n<p>\u201cWith so many negatives around, the rupee\u2019s trajectory could have been much, much worse had it not been for the big slump in oil prices,\u201d said Dushyant Padmanabhan, strategist at Nomura Holdings Inc. in Singapore. It\u2019s unlikely to be a straight path for the rupee, he said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are very few positives for India\u2019s rupee at the moment, the plunge in crude oil prices is a major one. Cheaper oil could translate into $40 billion of savings for India, balancing the nation\u2019s current account, according to Bank of America. The last time the nation posted a current-account surplus was in 2004. As crude prices tanked, it brought relief for the world\u2019s third-largest oil consumer. The rupee rebounded about 2% from a record low touched last month, with a Bloomberg survey of analysts forecasting that it could rise another 1% by year-end to reach 74.74. \u201cWith so many [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[146,130,177],"tags":[],"class_list":["post-350704","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/350704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=350704"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/350704\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=350704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=350704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=350704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}