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The rupee was expected to open little changed on November 28, failing to join a broad rally in Asian currencies. Non-deliverable forwards pointed to an opening near 83.37.
Market participants blamed weak exporter hedging and slowing portfolio inflows.
Persistent rupee weakness keeps dollar-denominated feed import costs elevated for Indian buyers. The move is routine currency commentary with no new commodity cause.
reuters.comNimesh VoraNov 28, 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.
