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The Indian rupee rose 1.6% in November to 81.4225 per dollar, its first monthly gain this year and an end to its longest losing streak in nearly four decades. The gain followed a retreat in the dollar index from its peak and a fall in oil prices.
A stronger rupee lowers India's cost of dollar-priced imports such as crude and edible oils, easing pressure on Indian import demand and on oil-linked feed costs.
reuters.comAnushka TrivediNov 30, 2022Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% 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.
