Loading…
The rupee fell 1.08% to close at 82.73 per dollar on February 6, its largest single-day drop in four months. The decline followed US non-farm payrolls of 517,000, well above the 185,000 estimate.
The data raised fears that the Federal Reserve would keep raising rates for longer than expected.
Strong US data lifts the dollar and raises the rupee cost of imported feed ingredients, which pressures Indian feed margins. Expectations of tighter Fed policy also weigh on emerging-market currencies more broadly.
business-standard.comBhaskar DuttaFeb 6, 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.
