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The Indian rupee fell to a record low of 83.16 per dollar on October 20, extending the previous day's slide. The move followed a jump in the US dollar and Treasury yields on expectations of continued aggressive Federal Reserve tightening.
The rupee had already dropped 0.8% in the prior session on dollar demand from large state-owned companies.
A weaker rupee raises the local cost of dollar-priced imports such as feed ingredients and energy, which can lift Indian buyers' demand for dollar-denominated supplies. Strong dollar moves also tend to pressure dollar-priced commodities globally.
reuters.comAnushka TrivediOct 20, 2022Not 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.
