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The Indian rupee closed at 79.9625 per US dollar, weaker than 79.8650 the prior session, after hitting a record low of 80.12 earlier in the day. The Reserve Bank of India sold dollars to support the currency, according to traders.
A weaker rupee raises the local cost of dollar-priced imports such as crude oil and feed inputs, which pressures Indian import demand and feed margins.
reuters.comAug 29, 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.
