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The depreciation of the rupee, it said, reflects the wider CAD as well as lower net capital inflows.
RIL's profit before interest and depreciation increased by 8%.
Reliance is in the market with a benchmark issue to sell 30-year US dollar-denominated Reg S fixed rate senior unsecured notes.
Moody's expects the new government to increase the retail selling prices of controlled fuel products -- kerosene and liquefied petroleum gas -- to help control its subsidy burden.
The Modi administration has been unable to initiate key reforms.
The rupee's stability in the last 12 to 18 months made corporates reduce hedging
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
Though the NDA government had been trying to privatise 20 companies, a decision for which was taken in 2017, and included national carrier Air India, the investor community evinced little enthusiasm for any of them. Now, with an in-principle approval for privatisation of BPCL, CCI and SCI, the government has taken the plunge again.
The Union government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record hike in excise duty on petrol and diesel that has pushed the total incidence of taxation on auto fuels to 70 per cent of the price. Late on Tuesday evening, the government hiked excise duty on petrol by Rs 10 per litre and that on diesel by Rs 13 a litre to mop up gains arising from international oil prices falling to a two-decade low.
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