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The Indian rupee hit a nine-month low of 75.4 against the dollar on April 13, 2021, losing about 4.2% over three weeks, one of the largest declines among emerging market currencies. The fall was attributed to rising COVID-19 cases, RBI's accommodative policy stance, and a planned bond-buying programme.
Persistent rupee weakness lifts the cost of dollar-denominated imports for India and can dampen import demand at the margin. This sustains an upward bias in USDINR.
indianexpress.comSandeep SinghApr 14, 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.
