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Concerns over a persistent US dollar shortage pushed Indian rupee forward premiums and the USD/INR swap rate to multi-week lows, with the 2-month forward premium at its lowest since 2011. The rupee was flat in spot at about 83.26 as the Bank of Japan tweaked its yield curve policy.
Dollar scarcity in India tightens import financing for feed and oilseed purchases, which can slow Indian buying and pressure import-linked demand.
brecorder.comReutersOct 31, 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.
