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The rupee recovered from an intraday low of 82.95 per dollar on February 27 after the RBI likely sold dollars to prevent excess volatility. The currency settled at 82.85, and the 10-year bond yield rose above 7.45%.
The rupee has fared better than 11 other emerging-market currencies so far in February.
RBI dollar sales are capping rupee depreciation, which limits the increase in Indian import costs for feed and meal. Rising domestic bond yields also signal tighter financial conditions that could weigh on Indian livestock and feed investment.
business-standard.comBhaskar DuttaFeb 27, 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.
