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An explainer on how COVID-19 has weakened the rupee's nominal effective exchange rate against the currencies of 36 trading partners. It uses the exchange rate as a gauge of India's economic competitiveness relative to other economies.
A weaker rupee raises the dollar cost of imports and makes India's exports cheaper abroad. This keeps USD/INR under upward pressure, which matters for buyers of dollar-priced feed ingredients sourced into India.
indianexpress.comUdit Misra, Nushaiba IqbalApr 20, 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.
