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The rupee traded near 73.22 against the dollar, down intraday and approaching its lowest level since mid-June, as India's virus death toll fell. Weak US data and softer Treasury yields weighed on the dollar.
A stronger rupee and weaker dollar reduce the cost of dollar-priced imports for Indian buyers, a minor influence on feed ingredient costs.
octaafrica.netAug 31, 2021Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
