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The rupee closed below 70 per dollar for the first time on August 16, falling 26 paise to 70.15 after an intraday low of 70.40. The RBI intervened to support the currency amid concerns over a widening trade deficit and surging crude prices.
A widening trade deficit and rising crude costs increase India's import bill and pressure its currency, which can temper Indian buying of imported commodities.
timesofindia.indiatimes.comPTISep 1, 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.
