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The Indian rupee rose to 63.59 per dollar, its strongest since July 2015, after the RBI cut its repo rate. Foreign banks sold dollars heavily, and the RBI did not intervene to cap the gains.
Traders said the rate cut had limited impact because it was widely expected.
A stronger rupee makes Indian imports of feed inputs cheaper but weighs on Indian export competitiveness, including for meal and rice shipments. Currency moves like this can shift Indian demand for imported oilseeds and related commodities.
business-standard.comReutersAug 2, 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.
