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The rupee closed 3 paise higher at 74.81 per dollar on Friday as the dollar index fell 0.22% to 92.81. The US economy contracted a record 32.9% annualised in the last quarter, and Brent crude rose to $43.25 a barrel.
Broad dollar weakness supports emerging-market currencies, modestly lowering India's import costs for feed and energy inputs.
kashmirreader.comPress Trust of IndiaJul 31, 2020Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
