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The rupee is on track to lose more than it did during the 2013 taper tantrum, as policymakers' efforts to stop its slide have failed. Rising oil prices and persistent foreign investor outflows are driving the decline.
A sharp rupee decline makes Indian buyers of imported feed ingredients and vegetable oils less price-competitive, which can soften import demand. Higher oil prices also feed through to freight and processing costs.
bloomberg.comKartik GoyalOct 2, 2018Not enough comparable past events yet for a historical read.
After 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.
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.
