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The rupee lost about 1.06% on May 18, its sharpest percentage fall since August 2015. Traders covered large short positions as dollar buying spread, after reports that President Trump could face impeachment proceedings.
The move reflects risk-off flows and positioning rather than a change in Indian fundamentals. Dollar-priced feed imports become more expensive for Indian buyers in the short term.
business-standard.comAnup RoyMay 18, 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.
