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The rupee closed at 81.95 per dollar, stronger than the prior close of 82.04, as the dollar index fell to multi-week lows after Powell's testimony. Forward premiums rose slightly and analysts expected low volatility to continue.
A firmer rupee lowers the local cost of imported feed ingredients, a modest support for Indian buyers, while the dollar's softness eases pressure on dollar-priced commodities.
thehindubusinessline.comReutersJun 22, 2023Not enough comparable past events yet for a historical read.
Not 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.
