Loading…
The Indian rupee closed 17 paise higher at 69.70 per dollar on May 31, snapping a three-session losing streak. Crude oil eased and the greenback weakened in overseas markets.
The rupee still fell 34 paise on the week.
A stronger rupee lowers the local cost of imported feed inputs such as soybean meal and oilseeds bought in dollars, marginally easing India's import costs. The move is small and driven mainly by currency and oil, so it has little direct effect on grain prices.
ndtvprofit.comPress Trust of IndiaMay 31, 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.
