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The rupee fell sharply on Monday after U.S. Treasury Secretary Janet Yellen renewed her call for Congress to raise the debt ceiling to avoid a possible U.S. default. Yellen warned that default could trigger a spike in interest rates and a financial crisis.
The yuan's depreciation added pressure on the rupee.
Heightened U.S. default risk drives safe-haven dollar demand and emerging-market currency weakness, raising the rupee cost of imported feed. The impact depends on whether the debt ceiling standoff escalates.
business-standard.comAnup RoySep 20, 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.
