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The Indian rupee breached 71 per dollar for the first time on Friday, August 31, opening at a record low of 70.95. Dollar demand from importers, oil marketing companies and defence buyers, along with higher crude prices, drove the decline.
Rising crude prices and a weaker rupee raise India's import costs, which can curb demand for imported commodities and reflect pressure on emerging-market currencies.
moneycontrol.comMoneycontrol NewsSep 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.
