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The rupee plunged 42 paise to settle at 71.80 against the dollar on January 3, its biggest one-day loss in over a month. The move followed a US strike that killed Iranian commander Qasem Soleimani, which lifted Brent 4.24% to $69.06 a barrel.
The Middle East escalation pushed crude sharply higher, raising energy and freight costs and pressuring import-dependent Asian currencies such as the rupee.
thehindu.comPTIJan 3, 2020After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
Not 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.
