The international crude oil price of Indian Basket went down sharply by 1.81% to USD 103.59 a barrel (bbl) on Feb. 3, 2014. This was lower than the price of USD 105.50 a bbl on previous trading day of Jan. 31, 2014.

In rupee terms, on the contrary also, the crude oil price of Indian Basket decreased to Rs 6,494.06 a bbl on Feb. 3, 2014 as compared to Rs 6,591.64 a bbl on Jan. 31, 2014. This was due to decline in price in dollar terms though rupee depreciation wiped out a part of the gains.

Rupee closed weaker at Rs 62.69 per USD on Feb. 3, 2014 against Rs 62.48 per USD on Jan. 31, 2014.