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The rupee closed at a record low of 78.965 per dollar on Wednesday as the central bank sold dollars to limit losses. The Indian shares fell, and UltraTech Cement was reported paying for a Russian coal cargo in Chinese yuan.
Rupee weakness and rising crude prices raise India's import costs and inflation risks, which can curb demand for imported commodities. The yuan settlement for Russian coal is a minor payments detail.
arabnews.comNirmal NarayananJun 29, 2022Not enough comparable past events yet for a historical read.
After 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), and -0.0% 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.
