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The Indian rupee strengthened on Thursday, supported by dollar inflows into the domestic stock market, which was near record highs. The U.S. Federal Reserve said it will likely begin reducing bond purchases as soon as November and may raise rates sooner than expected.
Asian currencies traded mixed as investors awaited China Evergrande's bond payment deadline.
Currency moves change the rupee cost of imported feed ingredients such as soymeal and corn for Indian buyers. A firmer rupee lowers landed costs, though a hawkish Fed could reverse that if dollar strength returns.
business-standard.comReutersSep 23, 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.
