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The rupee appreciated about four paise to 73.25 per dollar in early trade, having gained nearly one rupee since Friday. Traders attributed the move to corporate inflows, equity gains and dovish remarks from Fed Chair Powell at Jackson Hole.
A firmer rupee lowers the local cost of dollar-denominated feed imports for India, though the effect on global feed prices is limited.
khaleejtimes.comExternal AuthorAug 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.
