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Indian importers increased hedging of future foreign currency obligations after the rupee rallied 1.7% in the week ended January 13. Average forward dollar purchases by importers rose to $1.64 billion from $1.14 billion the prior week, according to CCIL data.
Heavier import hedging reflects expected dollar-denominated purchases of commodities, a modest signal of underlying import demand, though its price impact is limited.
brecorder.comReutersJan 17, 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.
