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Banks operating from GIFT City, India's international financial centre, began trading offshore rupee non-deliverable forwards for the first time on June 1. Inter-bank deals of $150-200 million took place, and the RBI allowed the move to limit NDF market volatility spilling into onshore trading.
The move improves rupee price discovery and may reduce volatility affecting Indian import costs. It has no meaningful direct effect on global feed commodity prices.
livemint.comGopika GopakumarJun 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.
