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The Reserve Bank of India is reportedly intervening in both onshore and offshore markets to limit the rupee's decline. The intervention follows investors raising their expectations for the US Federal Reserve's terminal rate.
Traders said the central bank's action has helped the rupee outperform regional peers.
Central bank support limits rupee weakness, which keeps Indian import costs for feed ingredients more stable. Sustained intervention reduces the odds of a sharp currency-driven rise in local feed prices.
reuters.comNimesh VoraFeb 22, 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.
