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The RBI is struggling to defend the rupee as its forex reserves deplete and rupee liquidity tightens, while the dollar index has risen more than 16% this year. Offshore forwards point to the rupee falling to 81.70 per dollar within three months.
A weakening rupee and dollar strength raise Indian import costs for commodities and reduce purchasing power, a mild bearish signal for demand.
moneycontrol.comAparna IyerSep 23, 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.
