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The rupee fell 0.54% to 79.66 per dollar on August 8 as traders bet on larger Federal Reserve rate hikes and importers bought dollars. The move followed a short-lived gain after the Reserve Bank of India raised rates by 50 basis points.
Expectations of tighter US policy strengthen the dollar, which raises the cost of dollar-denominated imports for India and pressures emerging-market currencies broadly.
reuters.comNimesh VoraAug 8, 2022Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, DXY 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.
