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The rupee closed at 75.01 per dollar on April 23, 2021, and had lost 2.6% in April, putting it on track for its worst month since the pandemic began. Rising COVID-19 cases, a stronger dollar, and RBI bond purchases were cited as drivers, with traders expecting a 74.50 to 76.00 range.
Rupee depreciation keeps India's dollar-based import costs elevated, which affects buyers of imported feed ingredients and oils. Analysts expect the currency to remain under pressure, supporting a higher USDINR.
livemint.comApr 23, 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.
