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The rupee touched 74.95 per dollar on Tuesday before the RBI sold dollars near 75.00, closing at 74.61. OPEC and allies agreed to phase out 5.8 million barrels per day of cuts, and Brent fell about 11% from its July 6-7 high.
Lower crude reduces import bill pressure and freight costs, easing the cost of imported feed inputs for India.
in.investing.comJul 21, 2021After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
Not 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.
