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The rupee opened weaker at 71.12 on January 20 as crude oil rose on rising tensions in West Asia and North Africa. Brent was up 1.14% at $65.59 a barrel, while foreign institutions remained net buyers in Indian markets.
Higher crude prices raise India's import costs and weigh on the rupee, while steady foreign inflows partly offset the pressure.
thehindubusinessline.comPTIJan 20, 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.
