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The rupee rose to 81.97 per dollar on March 3, its sharpest one-day gain since November, on GQG's purchase of about $1.9 billion in Adani Group shares and a weaker dollar index. The Indian currency is up 0.9% in 2023.
The rupee move was driven by equity flows rather than trade or commodity fundamentals, so the effect on feed import costs is minor.
business-standard.comBhaskar DuttaMar 3, 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.
