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The Indian rupee rallied 4.7% since December 31 to post its best first quarter since 1975. Foreign investors bought rupee bonds and Indian stocks, with Rs272 billion of bond inflows in March alone, after Prime Minister Modi's party won state elections.
The Reserve Bank of India has been intervening in currency markets to slow the gains.
A stronger rupee and heavy foreign inflows reflect improved sentiment toward India and a softer dollar, which weighs on dollar-denominated Indian feed and commodity import costs in rupee terms.
livemint.comKartik Goyal, Subhadip SircarMar 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.
