• The rupee slipped to a 19­-month low against the dollar as concern that rising crude oil prices, with fears of a trade war that could spur capital outflows to weigh the Indian currency down.

• The rising crude oil prices could widen the country’s current account deficit and stroke inflation combined with fears of a trade war that could spur capital outflows.

• Oil prices rose sharply as supply disruption in Libya and Canada tightened the market and after US officials told importers to stop buying Iranian crude from November.

• Rising crude prices are a drag on the Indian economy and fuel inflation concerns, as it is a major driver of our current account deficit as India imports around 80 per cent of its crude oil requirements.

• The rupee fell 0.54%, or 37 paise, against the dollar on Wednesday to settle at 68.61, the currency’s lowest close since November 24, 2016, when it ended at 68.73.

• The Indian rupee has slumped almost 7% against the dollar so far this year, making it one of Asia’s worst performing currencies. 

• Rupee  touched an intra­day low of 68.68 in afternoon trade, which may have prompted the central bank to intervene by selling dollars.

• Rupee’s depreciation is in line with other emerging market currencies as the dollar index has strengthened in the wake of the U.S. Federal Reserve raising interest rates.

• At the same time, the rupee's weakness should aid our exports amid improving global growth outlook.
• India enjoys a good cushion of foreign exchange reserves and the RBI is in a good position to control heightened volatility in the currency.

The Hindu, Indian Express.