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The rupee fell 47 paise to 69.82 per dollar in early trade on Monday, its weakest level in over a month. Brent rose toward $73.79 after reports that the Trump administration would end sanctions waivers for importers of Iranian oil, including India and China.
Importer dollar demand and a weaker equity opening added to the pressure.
The end of Iranian oil waivers lifts crude costs for a major importer, pushing the rupee weaker and supporting higher energy prices across commodity markets.
businesstoday.inApr 22, 2019After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% 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.
