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The rupee fell 0.44% against the dollar on Wednesday, its biggest one-day move since November 1, as it traded ahead of an expected 25 basis point RBI rate cut. Weak US services data, with the ISM non-manufacturing index at 53.9 and ADP jobs growth of only 67,000, added to the dollar's softness.
Weaker US data and a softer dollar reduce import costs for India, but the move is a routine currency fluctuation with limited direct effect on feed commodity prices.
octaafrica.netDec 5, 2019Not 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.
