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The Indian rupee has lost 3.59% against the dollar in 2020, the worst performance among Asian currencies, even as most regional currencies rallied after the US dollar weakened. The Reserve Bank of India's dollar purchases appear to be the main reason, despite strong foreign portfolio and direct investment inflows.
Continued RBI dollar buying keeps USD/INR supported, which raises the rupee cost of dollar-priced feed imports such as soymeal and corn.
thehindubusinessline.comNov 29, 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.
