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The rupee breached 65 per dollar, a level last seen in November, and posted its biggest weekly depreciation since late 2016. Analysts link the pressure to fiscal slippage, a bank scam and a planned recapitalisation of public sector banks.
The commentary says the weakness is unlikely to fade quickly.
Sustained rupee weakness raises the cost of dollar-denominated imports for India's feed sector. Banking stress may also tighten trade credit available to importers.
think.ing.comFeb 23, 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.
