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The rupee lost 18 paise to settle at 71.78 against the dollar on September 17, 2019, as investors worried about higher crude prices after the Saudi drone attacks. Brent had surged nearly 20% the previous day before moderating.
Analysts flagged inflation and fiscal risks for India.
Elevated crude raises India's import costs and inflation pressure, which can slow monetary easing. The effect on feed commodity prices is indirect.
indiatoday.inPress Trust of IndiaSep 17, 2019After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% 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.
