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Bank of America Merrill Lynch expects the rupee to trade around Rs 66 per dollar by December 2017 and Rs 64 by December 2018. It expects the Reserve Bank of India to keep recouping forex reserves when the dollar weakens while allowing depreciation when it strengthens.
The rupee was trading near Rs 64.78 at the time.
A forecast rupee weakening toward Rs 66 would raise the cost of imported feed ingredients priced in dollars for Indian buyers, though the effect on global feed prices is small.
thehindubusinessline.comRajalakshmi SOct 31, 2017Not 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.
