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The Indian rupee closed at 74.11 against the dollar, a two-month low, as domestic equities sold off and the dollar index gained. Month-end oil importer demand also supported the greenback, and Brent crude fell 1.46% to $38.55 per barrel.
A weaker rupee increases the cost of imported inputs for Indian feed and oil buyers, and the lower crude price reduces energy-linked cost pressure.
livemint.comAshwin RamarathinamNov 1, 2020Not enough comparable past events yet for a historical read.
Not 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.
