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The rupee closed at 68.85 on Friday, recovering from an all-time low of 69.13 reached earlier that day. The rebound followed RBI intervention through state banks, after China weakened its yuan fixing by the most since 2016.
Yuan weakness spilling into Asian currencies raises the dollar cost of feed imports across the region. The RBI support limits near-term rupee downside for Indian importers.
livemint.comRavindra N. SonavaneAug 1, 2018Not enough comparable past events yet for a historical read.
After 398 past bullish macro events, USDCNY moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
