RSSThe dollar has been doing quite well in the international market. Some times back the price of dollar had dropped very low but with the price of crude oil and dollar declining in the market, dollar has been gaining some momentum.
In the local exchange rate the dollar had gone down to Rs. 60.00 per dollar. At present the worth of dollar is somewhere around Rs.75.00. It is also a known fact that price of barrel of crude oil had rocketed to 147 dollars which has now dropped to 110.00 dollar per barrel. The OPEC has been trying to rectify the supply of oil as the price has gone down which means some loss has to be suffered. The supply of petroleum products exceeds the demand and that is what the OPEC is more concerned about. They have already issued press release stating that they would minimize the supply of petroleum products.
In the local market the price of petrol per litre still hovers around Rs.100.50 though the price has declined heavily in the international market. With the greatest festival round the corner, the price of gold saw a heavy downfall. This is the occasion when people would buy gold and ornaments and this time around they have some good news because the price of gold is also getting low. The international market saw the price of both gold and petroleum products come down whereas the local market has just seen the price of gold come down. The price of petroleum products is constant.
In the local exchange rate the dollar had gone down to Rs. 60.00 per dollar. At present the worth of dollar is somewhere around Rs.75.00. It is also a known fact that price of barrel of crude oil had rocketed to 147 dollars which has now dropped to 110.00 dollar per barrel. The OPEC has been trying to rectify the supply of oil as the price has gone down which means some loss has to be suffered. The supply of petroleum products exceeds the demand and that is what the OPEC is more concerned about. They have already issued press release stating that they would minimize the supply of petroleum products.
In the local market the price of petrol per litre still hovers around Rs.100.50 though the price has declined heavily in the international market. With the greatest festival round the corner, the price of gold saw a heavy downfall. This is the occasion when people would buy gold and ornaments and this time around they have some good news because the price of gold is also getting low. The international market saw the price of both gold and petroleum products come down whereas the local market has just seen the price of gold come down. The price of petroleum products is constant.
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