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The Indian rupee closed at a new all-time low against the dollar on September 18, 2018, at 72.975 despite Reserve Bank of India dollar sales of roughly $400-500 million. The fall was attributed to rising crude prices and US-China trade war tensions, and Indian bond yields also rose.
A weaker rupee raises India's cost of imported crude and other inputs, which can curb Indian import demand and feed-related purchases, while also prompting policy tightening that weighs on domestic demand.
business-standard.comReutersSep 18, 2018Not 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.
