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The rupee strengthened 17 paise to close at 70.62 per dollar on November 28 as global crude slipped below $60 a barrel. Domestic equities also recovered, with the Sensex gaining over 200 points for a third session.
Falling oil prices lower India's import costs and inflation outlook, which supports the rupee. Forex traders are watching upcoming domestic and US data for the next move.
timesofindia.indiatimes.comPTI / Nov 28, 2018, 19:16 ISTDec 1, 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.
