India to pay extra Rs 68,500 crore to repay foreign debt due to the fall of Rupee
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With rupee losing 11% this year, India will have to pay an extra Rs 68,500 crore to repay short-term foreign debts. The rupee has hit a lifetime low of 72 to a dollar and if it goes down to 73 to a dollar, India's oil bill will rise by Rs 45,700 crore. For the rest of the year, if the rupee depreciates an average of 71.4 to a dollar, the debt repayment amount will be Rs 7.8 lakh crore, according to SBI officials.