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The Indian rupee rose 1.7% against the dollar in May, becoming Asia's best-performing currency as daily Covid-19 infections fell from a record high. Local lockdowns helped contain cases, and the rupee also offers Asia's highest carry returns.
The Reserve Bank of India may still limit further gains.
A firmer rupee lowers the rupee cost of imported feed ingredients and raises India's import-price pressure relief, while a stronger currency can weigh on Indian export competitiveness. The effect on global feed prices is limited.
thenationalnews.comBloombergMay 25, 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.
