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The rupee rebounded 54 paise to 71.24 against the dollar as crude prices slid after Saudi Arabia's energy minister said production at the drone-hit plant would be fully restored by month-end. Foreign fund outflows limited the gains.
The article describes the rupee's move on September 18, 2019.
Expectations of a quick restoration of Saudi output lowered the crude risk premium, which eased pressure on oil-importing currencies and inflation. Lower energy costs support feed-input margins if the trend holds.
indiatoday.inPress Trust of IndiaSep 18, 2019After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% 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.
