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The rupee is likely to lag an emerging market rally after Fed-driven dollar weakness, as its real effective exchange rate rose to a near seven-year high in July. The Reserve Bank of India's bulletin put the currency about 7% overvalued on a 40-currency basis.
An overvalued rupee tends to make Indian exports less competitive and keeps the central bank cautious about further appreciation, which limits any currency-driven change in Indian import costs.
reuters.comJaspreet KalraAug 26, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
