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With a depreciating rupee, importing oil has become costlier for the public sector oil marketing companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum.

 
 
Latest data showed food inflation falling to a 39-month low to 6.6 per cent for the week ended November 30.
Moody's Investors Service in its report said that the sharp fall in Indian rupee is having a moderate impact on the Indian companies.
A depreciating rupee will make oil imports costlier, again increasing pressure on oil retailers to hike prices of at least deregulated fuel like petrol.
Continued demand for the American currency from banks and importers, coupled with news of negative growth in industrial output in October led to Rupee's fall.
Negative factory output and a moderation in food prices may nudge the RBI to soften its stance when it reviews the monetary policy on December 16.
 
 
He noted that major economies worldwide have not yet emerged from the slowdown in late 2008 despite the aggressive use of fiscal and monetary tools.
Inflation has been sticky and elevated for more than two years. November is the 12th straight month in which annual inflation has been over 9 per cent.
The Reserve Bank says it prefers long-term foreign direct investment inflows to short-term debts as the former is more stable in nature.
The Government is mulling setting up a Rs 1,000 crore Credit Risk Guarantee Fund to encourage banks to give loans to the poor, says Prime Minister Manmohan Singh.
The government has set an export target of $33 billion for the textiles sector next year despite the global economic slowdown, which it termed a "serious concern".
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