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The rupee weakened 7 paise to settle at 71.33 against the dollar on January 24. Dollar demand from importers offset a correction in crude oil prices linked to the coronavirus outbreak in China.
Lower crude prices ease India's import bill, but importer dollar demand keeps the rupee under pressure, which affects the local cost of imported feed.
thehindubusinessline.comPTIJan 24, 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.
