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Moody's downgraded India's sovereign rating to one notch above junk, but the rupee strengthened to 75.36 per dollar as the RBI intervened in currency and bond markets. The central bank absorbed inflows from stake sales in Reliance Jio and Bharti Airtel and added $3 billion to reserves.
RBI intervention limits rupee appreciation, which keeps Indian import costs elevated for feed ingredients. The rating downgrade adds to the rupee's macro uncertainty without changing global feed prices directly.
business-standard.comAnup RoyJun 2, 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.
