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Commerzbank said the rupee is weaker on firmer oil prices and cautioned against being too positive on the currency. It noted the rupee rose nearly 4% in Q4 2018 on a sharp oil price drop and flagged RBI policy uncertainty after a governor resignation.
Oil-linked currency swings directly affect India's feed import costs, and the analysts expect the rupee to stay vulnerable to renewed oil strength.
forexcrunch.comFX StreetJan 16, 2019Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
