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The rupee slipped to 82.05 per dollar as importers kept hedging near-term dollar payables. Traders said the currency could face pressure above 82.20, and markets priced near 70% odds of a Fed hike in May.
Persistent dollar demand from oil importers signals a weaker rupee, which raises India's import costs for energy and dollar-priced feed inputs.
kitco.comApr 11, 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.
