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The rupee gained sharply on Friday after reports that the RBI had nudged state oil companies to reduce spot dollar purchases and offered a $9 billion overseas credit line instead. The currency settled at 81.35 per dollar, down 8.6% for the calendar year.
Easing pressure on the rupee and a softer dollar support Indian import demand somewhat, though the move is a short-term reversal within a longer depreciation trend.
business-standard.comBhaskar DuttaSep 30, 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.
