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The rupee closed at a new all-time low of 83.39 per dollar on November 30 amid a stronger dollar index and higher crude prices. It was the worst performer among Asian currencies in November, the only one to depreciate, while the dollar index fell about 4% that month.
Persistent dollar demand from importers was cited as the main cause.
Importer dollar demand and a weaker rupee raise the landed cost of imported feed ingredients in India. The currency gap against regional peers also weighs on Indian import competitiveness.
business-standard.comAnjali KumariDec 1, 2023Not enough comparable past events yet for a historical read.
After 102 past neutral macro events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -3.3% to +2.5%), and +1.8% 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.
