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The rupee closed 87 paise weaker at 73.38 per dollar on March 30, as rising crude oil prices and a strong US currency weighed on sentiment. The dollar index rose 0.20% to 93.12 amid a surge in US Treasury yields tied to vaccine rollout and stimulus expectations.
Higher crude prices raise India's import bill and add pressure on the rupee, which can lift the cost of imported oil-linked inputs. The currency move is driven by oil and US yields rather than a change in feed supply.
outlookindia.comPTIMar 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.
