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On September 26, the October rupee futures contract briefly spiked to 65.00 per dollar from 65.65 just before the market closed, which dealers attributed to an apparent fat-finger error. A roughly $100 million trade on an exchange was suspected to come from a state-owned bank.
The rupee closed at 65.45, its weakest level in six months.
The episode is a market-structure event with no direct supply or demand effect on feed commodities. It only highlights volatility in the rupee, which can affect import costs.
m.economictimes.comSaikat DasSep 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.
