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The rupee breached 79 per dollar for the first time on July 1 and has fallen 6.7% in 2022, worse than most emerging-market peers but the weakest among BRICS. Heavy foreign portfolio selling of Indian equities, net $29 billion this year, has driven dollar demand.
The dollar index has risen about 11% over the same period.
Sustained foreign outflows and a strong dollar keep import costs for India elevated, which can reduce its appetite for dollar-priced commodities and fertilizer. This tightens the cost base for Indian feed and food processors.
thehindu.comJasmin NihalaniJul 9, 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.
