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Traders told Reuters that the Reserve Bank of India likely sold dollars via state-run banks to stop the rupee falling below 83 per dollar. The rupee traded at 82.88 after recovering from a low of 82.99 as the dollar index jumped almost 1%.
RBI dollar sales to defend the rupee signal policy intervention that affects the local cost of imports, but the story has limited direct effect on agricultural commodity prices.
thehindu.comReutersJan 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.
