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The Indian rupee was expected to open slightly weaker near 83.27-83.28 per dollar on Monday, with NDF pricing near a record low of 83.29. Traders cited oil prices and dollar demand as reasons for underperformance versus Asian peers.
Rupee weakness linked to oil and dollar demand raises the local cost of imported feed inputs and supports the dollar's value against Indian import budgets.
brecorder.comReutersOct 30, 2023Not enough comparable past events yet for a historical read.
After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% 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.
