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The Reserve Bank of India sold a net $20 billion in spot markets in March 2022, the largest monthly amount on record, to slow rupee depreciation. The rupee reached an all-time closing low of 77.58 per dollar on May 18.
The article links the currency fall to the Russia-Ukraine war, crude prices and Fed tightening.
Explainer on rupee defence; the effect on feed buyers is indirect, through the cost of imported crude and vegetable oils priced in dollars.
livemint.comMintGenie TeamMay 19, 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.
