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The rupee strengthened to its highest level in 1.5 months on foreign equity inflows, with the RBI having aggressively bought dollars to prevent sharp appreciation. That buying injected large amounts of rupee liquidity, pushing overnight money market rates below the reverse repo rate.
Stronger rupee momentum lowers USD/INR, reducing the local cost of dollar-priced imports, though RBI liquidity actions may limit the move.
zawya.comSwati BhatDec 1, 2020Not 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.
