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The Indian rupee slid past 76 per US dollar on December 16 for the first time since June 2020, reaching 76.25. The fall followed a record trade deficit of $22.9 billion in November and a third straight month of foreign portfolio outflows.
The rupee was down 3.7% year to date, a smaller decline than several other emerging-market currencies.
A weaker rupee raises the local cost of dollar-priced imports, including feed ingredients and vegetable oils, while the trade gap adds pressure on the currency. Import costs for Indian feed buyers are likely to rise.
thehindu.comJasmin NihalaniDec 26, 2021Not 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.
