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of <h1>Crude Oil Price Drop by $1 Cuts Import Bill by Rs. 8,578 Crore; Rupee Rise Saves Rs. 12,328 Crore.</h1> A decrease of one USD in crude oil prices reduces the country's import bill by approximately Rs. 8,578 crore. Conversely, a one rupee appreciation against the US Dollar lowers the crude oil import bill by about Rs. 12,328 crore. The government actively monitors export and import performances across various sectors, including crude oil, and implements corrective measures as needed to address financial and economic impacts. This information was provided by the Minister of State in the Ministry of Commerce and Industry in a written response to the Rajya Sabha.
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