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The Indian rupee rose 42 paise to settle at 74.65 against the US dollar on January 31, its biggest single-day gain in 12 weeks, in line with positive regional currencies and buoyant domestic equities. The government also presented the Economic Survey projecting 8-8.5% growth for fiscal 2022-23.
A firmer rupee lowers the rupee cost of dollar-priced feed imports such as soybean meal and corn for Indian buyers, though the move is a routine currency fluctuation with little direct effect on global grain prices.
cnbctv18.comPTIJan 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.
