Loading…
The rupee closed at 81.2150 per dollar after briefly hitting a two-week high of 80.99, helped by a softer dollar after Fed Chair Powell suggested rate hikes could be scaled back. State banks were buying dollars for oil companies on lower spot prices.
A stronger rupee eases India's cost of dollar-priced imports, and a softer dollar tends to support US and global commodity prices.
moneycontrol.comReutersDec 1, 2022Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
