Global uncertainty is surging from the Russia-Ukraine war, which may slow economic growth this year, noted the International Monetary Fund (IMF) in its blog post, citing the latest reading of an index.
Jet fuel prices on Saturday were hiked by a marginal 0.2 per cent the eighth straight increase this year to an all-time high, reflecting a surge in global energy prices.
Inflation has surged sharply in March, according to the latest data from India, the United Kingdom and the United States, but that does not reflect the full impact of the ongoing Russia-Ukraine war, suggesting that the risks are skewed more to the upside for price pressures globally.
the Indian crude oil basket price rose to $99.86 per barrel on April 12, 2022, at an exchange rate of Rs 76.11 per dollar, up from $97.82 per barrel the previous day at (Rs/$) 75.96.
The rupee extended its losses on Wednesday as the dollar strengthened after Federal Reserve Governor Lael Brainard said the US central bank needs to act and take inflation head-on.