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The Reserve Bank of India likely sold dollars through public sector banks to stop the rupee from falling to a record low. The rupee was quoted at 83.025 against the dollar.
Traders said the intervention would limit depreciation below 83.25.
Central bank intervention caps rupee weakness, which limits the rise in the local cost of imported feed. The effect on commodity prices is small.
moneycontrol.comAug 20, 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.
