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The rupee hit a new low of 83.4875 per dollar on June 26 as persistent dollar demand from public sector banks, linked to currency futures expiry, pushed it down. Concerns about high US interest rates and hawkish Fed comments added pressure.
A weaker rupee raises India's dollar import costs, which can slow purchases of vegetable oils and meal and weigh slightly on global prices.
finimize.comFinimize NewsroomJun 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.
