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Moody's lowered India's sovereign rating outlook to negative, citing deeper and longer growth weakness, and the rupee fell the most in Asia. Investors have doubted the government can meet its budget targets after a slowdown in tax revenue and a $20 billion corporate tax cut.
A sovereign outlook downgrade raises risk premia on the rupee and can slow capital inflows, which pushes up the rupee cost of dollar-priced feed imports.
hindustantimes.comSubhadip SircarNov 8, 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.
