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The rupee fell 35 paise to close at 65.45 per dollar on September 26, its lowest close since March 23, as importers bought dollars amid foreign fund outflows. The dollar had climbed to a three-week high against major currencies.
Expectations of a Fed rate hike later in the year added to the pressure.
A weaker rupee increases the local cost of dollar-priced imports for India, which can curb purchases of feed ingredients. The effect is contained to currency and import-cost channels.
asianage.comDC CorrespondentSep 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.
