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The rupee closed at a record low of 83.3938 per dollar after US data showed third-quarter GDP growth revised up to 5.2% annualised. The dollar index rose to 103.35 during Indian trade.
Traders said the stronger growth could push Federal Reserve rate cuts further into 2024.
A weaker rupee raises the cost of imported feed inputs such as soymeal and corn for Indian buyers. The move reflects dollar strength rather than a change in grain supply.
m.economictimes.comBhaskar DuttaNov 30, 2023Not 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.
