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The rupee gained 0.75% to close at 71.48 per dollar after the Reserve Bank of India agreed to transfer 1.76 lakh crore rupees to the government, easing fiscal concerns. A weaker US dollar against major peers also supported the currency.
The RBI transfer improves India's fiscal room for stimulus, a modest support for domestic demand and the rupee, with limited direct effect on feed commodity prices.
thehindu.comSpecial CorrespondentAug 27, 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.
