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The Indian rupee closed at 69.85 per dollar, its first close below 70 since August, gaining 77 paise as oil prices fell below $60 a barrel. Sensex and Nifty closed at their highest levels since October 1 after Fed Chair Jerome Powell said policy rates were just below neutral.
Lower crude prices ease India's import bill and current account deficit, which supports the rupee against the dollar. Weaker oil also reduces the cost of imported energy for Indian buyers.
business-standard.comAnup Roy, Samie ModakNov 29, 2018Not enough comparable past events yet for a historical read.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% 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.
