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The Indian rupee has shed about 6% against the dollar since the start of 2022. It closed at 79.3025 per dollar on Wednesday, close to its record low of 79.3750 set the previous day.
The Indian central bank has taken steps to attract foreign fund inflows and stabilise the currency.
Central bank intervention to support the rupee may slow the currency's decline, which would ease the cost of dollar-priced imports for Indian feed and oilseed buyers. The effect on prices is modest unless the rupee's slide reverses sharply.
reuters.comSwati BhatJul 6, 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.
