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Banks have curtailed issuing letters of credit and guarantees after the PNB fraud, causing one-year rupee forward rates to fall about 50 paise to 239 paise. The move reflects acute dollar shortage and disrupts cross-border trade.
Disrupted letter-of-credit access and dollar shortages can delay or raise the cost of Indian imports of feed and oilseed commodities.
business-standard.comAnup RoyMar 7, 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.
