In an email interview to PTI, the American economist also said that when the US raises exchange rates unexpectedly, the dollar tends to appreciate and things will normalise when interest rates are closer to each other in the US and India.
Oil Price Today (July 1): Crude oil above $73 as Iran rejects direct peace talks with US. Where are prices headed?
Brent crude futures were up 50 cents, or 0.69%, at $73.45 a barrel at 1208 GMT. U.S. West Texas Intermediate (WTI) crude rose 63 cents,