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The rupee closed at 64.46 per dollar on November 30, down 15 paise after a three-day rally. Concerns over India's fiscal deficit, which hit 96.1% of the budget estimate at end-October, and possible OPEC output cut extensions drove the decline, ahead of the Q2 GDP release showing 6.3% growth.
A weaker rupee and firmer crude raise India's import costs for edible oils and energy, which can support Indian demand for vegetable oils while adding to feed-chain costs.
india.comAbout the Author PTI FeedsNov 30, 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.
