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The rupee ended FY22 down 3.5% against the dollar, compared with a 3.4% gain the prior year, and outperformed many global peers despite the Fed's rate hikes and higher crude after Russia invaded Ukraine. Forex reserves reached a record high of about $642 billion, cushioning the currency.
Currency stability with large reserves limits the rupee-cost shock on India's imported feed and oilseed purchases, so the price effect on buyers is modest.
business-standard.comManojit SahaMar 31, 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.
