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The rupee ended 3 paise lower at 64.92 per dollar on November 22 after touching a two-week high intraday. Dollar demand from corporates and rising global crude prices, driven by a Canadian pipeline disruption and OPEC cut expectations, weighed on the currency.
Higher crude prices raise India's import bill and fiscal pressure, which tends to weaken the rupee and make imported vegetable oils and feed inputs more expensive.
deccanchronicle.comDC CorrespondentNov 22, 2017Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
