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The rupee recovered some ground to close at 64.76 per dollar after touching a three-month low of 64.95 intraday. Heavy importer demand for dollars was offset by state-run bank and exporter dollar sales.
Traders were positioning ahead of minutes from the Federal Reserve's January meeting.
Intraday swings reflect dollar demand from importers and Fed rate expectations, which affect the cost of dollar-priced feed imports. The move was a routine session fluctuation with no new structural cause.
thehindu.comPTIFeb 21, 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.
