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The rupee closed at 66.76 against the US dollar on Thursday after falling to a 14-month low the previous day. Currency dealers expect it to breach 67 per dollar.
The fall is attributed to rising crude prices, foreign investor outflows and US trade-war worries.
A weaker rupee raises India's dollar import costs for crude and other inputs, which feeds into feed-ingredient import prices and domestic inflation. Continued rupee weakness supports a stronger dollar against Indian-linked commodity costs.
livemint.comAlekh ArchanaApr 26, 2018Not enough comparable past events yet for a historical read.
After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% 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.
