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The Times of India reports that the rupee strengthened 22 paise to 72.38 per dollar on September 27, 2018, after the government raised import duties on 19 items, including jet fuel and air conditioners, to curb the current account deficit. Dollar selling by exporters and banks also supported the currency, and the Federal Reserve had raised rates for the third time that year.
Higher Indian import duties aim to curb imports of goods priced in dollars, including energy-linked products, which can reduce India's dollar demand but also dampen import-driven purchases.
timesofindia.indiatimes.comPTIOct 1, 2018Not enough comparable past events yet for a historical read.
After 187 past neutral policy events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -4.0% to +3.5%), and +0.1% 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.
