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The rupee dropped to a six-month low of about 65.38 per dollar on September 26 amid fund outflows from domestic capital markets. Analysts cited US Federal Reserve plans to hike rates in December and balance sheet unwinding, along with safe-haven demand for gold and yen.
Foreign exchange reserves rose to $402.5 billion as of September 15.
Rupee weakness raises the cost of dollar-denominated imports for India, which can tighten feed ingredient budgets. Global dollar strength tied to Fed policy also affects dollar-priced commodities more broadly.
prelaunch.financialexpress.comAbhijeet SinghSep 26, 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.
