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The Indian rupee hit an all-time low of 81.9350 per dollar as US yields surged and the dollar index reached a two-decade high. Traders suspected the Reserve Bank of India was selling dollars through state banks to keep the currency from weakening further.
Rupee weakness makes imported oilseeds and vegetable oils more expensive for Indian buyers, while the dollar strength pressures commodity prices broadly.
brecorder.comReutersSep 26, 2022brecorder.comReutersSep 28, 2022Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
