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The rupee weakened below 70 per dollar as Brent touched $75.50 for the first time since October 31 after the US ended sanctions waivers on Iranian oil buyers. The dollar index broke out of its prior range, adding pressure.
Analysts noted the RBI had cut rates twice this year, which adds to the rupee's vulnerability.
A combination of higher oil, a stronger dollar and a dovish central bank raises India's import costs and keeps emerging-market currency pressure elevated.
forex.comGlobal authorApr 25, 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.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
