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The rupee strengthened by 3 paise to 71.62 per dollar on Thursday as crude oil prices eased. Domestic equities were weak and investors remained worried about the coronavirus spreading outside China.
The dollar held gains against the yen on safe-haven demand.
Lower crude prices ease India's import bill and support the rupee, which matters for Indian buyers of imported feed ingredients. The move is small and reflects routine currency trading.
insights.dsij.inApurva JoshiFeb 27, 2020Not enough comparable past events yet for a historical read.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% 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.
