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A senior Indian finance ministry official said New Delhi would not be concerned if the rupee fell to 80 per dollar, provided other currencies also depreciated. The rupee had hit an all-time low of 70.1 and has fallen more than 8 percent this year, with the RBI having spent about $23 billion on intervention.
The government's tolerance for further depreciation signals that the rupee may keep weakening, keeping Indian import costs elevated for commodities and energy.
reuters.comManoj KumarAug 14, 2018Not enough comparable past events yet for a historical read.
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.
