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The Indian rupee has weakened despite strong foreign inflows because the Reserve Bank of India has been buying dollars, reportedly about $18 billion since late September. The RBI has said it does not target a specific exchange rate, and analysts read the purchases as an effort to stop a sharp rupee appreciation that could hurt exports.
A central bank that absorbs inflows to keep the rupee weak supports Indian export competitiveness and keeps USD/INR firm, which raises the rupee cost of dollar-priced feed imports.
livemint.comPrefer Livemint on GoogleNov 28, 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.
