India's oil price rise is because India is Dealing in US$Dollers which is constantly depriciating. Switch to Euro or other denominations Oil price hike is not much.
Can some knowedgable persons work on the calculations
RE:India's oil price
by ashish on Jul 13, 2008 01:33 AM Permalink
ha ha .. that would mean many of our people slavishly working in BPO/IT industry would end up jobless.
RE:India's oil price
by CSHut on Jul 13, 2008 02:04 AM Permalink
crude oil price has doubled in US dollar term in one year, whereas euro has appreciated only 10% in last one year against dollar. That is about 90% increase in crude oil price in euros.
You can check for yourself by going to quote.yahoo.com and putting symbol USO for oil price in dollars and FXE for euro against dollar.
