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The rupee was hovering near 64.40 early in the week and gained after the US Federal Reserve kept rates unchanged and signalled that balance sheet unwinding would begin relatively soon. The dollar index fell from about 94 to a low of 93.15 before recovering to around 93.45.
A 25-basis-point RBI rate cut is widely expected at the coming policy meeting.
A softer dollar tends to support Indian import-dependent sectors and lowers the rupee cost of dollar-priced commodities, though the effect on feed prices is modest.
thehindubusinessline.comGurumurthy KJul 31, 2017Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
