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The rupee was expected to rise at the open on November 6 after softer-than-expected US jobs data reinforced expectations that the Federal Reserve would not hike rates again. Non-deliverable forwards pointed to a level near 83.08-83.12 per dollar, versus 83.285 the previous session.
A stronger rupee lowers the cost of dollar-priced feed imports for India. The move reflects US rate expectations rather than a change in grain supply.
reuters.comNimesh VoraNov 6, 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.
