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The Indian rupee fell on Wednesday to 83.4875 per dollar as public sector banks kept buying dollars, largely tied to the monthly expiry of currency futures. Other Asian currencies also dipped on expectations that US rates would stay high for longer.
A weaker rupee raises the local cost of dollar-priced imports such as soybean meal and vegetable oils, which can soften Indian import demand and weigh on feed-ingredient prices.
business-standard.comReutersJun 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.
