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India Ratings said swelling forex reserves and a current account surplus have kept the rupee broadly stable since mid-March 2020. The agency forecast an average rate of 75.98 per dollar in FY21 and a 5.3% economic contraction.
A stable rupee with ample reserves limits import cost volatility for Indian feed and oil buyers, though the expected contraction in imports could soften demand.
southasiamonitor.orgJul 30, 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.
