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The Indian rupee rose marginally to 83.15 per dollar on Wednesday as oil prices and US Treasury yields retreated. Dollar liquidity remained less than sufficient, as shown by the dollar/rupee cash swap rate.
Softer oil and yields modestly support the rupee, slightly easing the local cost of imported feed ingredients for India.
reuters.comNimesh VoraOct 25, 2023Not enough comparable past events yet for a historical read.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% 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.
