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The rupee rose 27 paise to close at 74.19 against the dollar, its third straight gain, helped by domestic equity gains and a weaker US dollar. Traders linked the move to rising US COVID-19 cases and comments from Federal Reserve Chair Jerome Powell.
A firmer rupee lowers the local-currency cost of dollar-priced grain and oilseed imports, a modestly bearish signal for Indian feed input costs.
thehindu.comPTINov 18, 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.
