The international crude oil price of Indian Basket went up sharply 1.9% to USD 108.46 a barrel (bbl) on Mar. 3, 2014. This was higher than the price of USD 106.44 a bbl on previous trading day of Feb. 28, 2014.
In rupee terms also, the price of Indian Basket increased to Rs 6,709.34 a bbl on Mar. 3, 2014 as compared to Rs 6,606.73 a bbl on Feb. 28 2014. This was due to rise in price in dollar terms though rupee appreciation mandated a part of the impact.
Rupee closed stronger at Rs 61.86 a USD on Mar. 3, 2014 as against Rs 62.07 a US dollar on previous trading of Feb. 28, 2014.
