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The Indian rupee rallied 2% in May, its biggest monthly gain in over two years, as Covid cases eased. Analysts linked the move to a shift in Reserve Bank of India currency policy, with foreign-exchange reserve accumulation slowing to $4.9 billion from about $9 billion in April.
A firmer rupee lowers the local-currency cost of dollar-priced imports such as feed ingredients and energy, which can ease import costs for Indian feed buyers. The effect on global feed prices is small.
bloomberg.comRonojoy MazumdarJun 1, 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.
