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An analyst expects the rupee to strengthen toward 82.40 per dollar in the January-March 2024 quarter, trading in a 82.40-83.40 range. The analyst also sees the dollar index possibly testing 96-97 and cites geopolitics and central bank decisions as main drivers.
Expected rupee appreciation would lower India's cost of dollar-denominated feed and oilseed imports. The outlook is a forecast with little direct effect on commodity prices.
livemint.comAnkit GohelFeb 1, 2024Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
