Loading…
India's rupee, one of Asia's worst performers this year, has lost nearly 7% against the dollar and hit a record low of 76.92 on Wednesday. Analysts said the currency could be the fastest in the region to rally as economies reopen, oil prices weaken and the dollar eases.
Oil is a major import for India, so cheaper crude eases the import bill and could push the current account toward surplus, which would support the rupee and lower USD/INR. For feed buyers, a stronger rupee trims the local-currency cost of imported meal and ingredients.
timesofindia.indiatimes.comReuters / Updated: Apr 24, 2020, 17:33 ISTApr 24, 2020Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, WTI moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% 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.
