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The Indian rupee weakened to a three-week low of 73.19 per dollar on March 30, tracking a stronger dollar that rallied against the yen and other emerging-market currencies. Traders suspected the central bank bought dollars through state-run banks to absorb portfolio inflows.
A weaker rupee raises the rupee cost of dollar-priced imports for India, a marginal price pressure for feed importers. The move mainly reflects currency flows rather than a change in the underlying commodity balance.
timesofindia.indiatimes.comReuters / Mar 30, 2021, 13:36 ISTMar 30, 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.
