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The Indian rupee traded near 74.95 per dollar on December 2, after a 0.12% intraday decline. Manufacturing activity rose to a 10-month high, while the trade deficit widened to a record $23.3 billion.
Omicron concerns and Fed commentary kept markets cautious ahead of the US jobs report.
The record trade deficit points to continued pressure on the rupee, which raises import costs for feed buyers. Short-term price moves are driven by broader dollar sentiment rather than new supply or demand shifts.
octaafrica.netDec 2, 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.
