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The rupee settled 36 paise lower at 70.02 per dollar on May 23 after erasing early gains. Investors shifted focus from the election result to crude prices, the US-China trade dispute and the upcoming RBI policy meeting.
The dollar index rose 0.16 percent to 98.19.
A weaker rupee raises India's cost of dollar-priced imports, including crude oil and vegetable oils, which tightens domestic feed input margins. The effect on global feed grain prices is limited.
auto.economictimes.indiatimes.comET AutoJun 1, 2019Not enough comparable past events yet for a historical read.
After 54 past neutral macro events, Crude Oil (Brent) moved a median +0.4% over 5 sessions (57% higher; middle half -2.8% to +2.5%), and +0.6% over 20.
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.
