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The rupee posted its sharpest rally in almost a year, gaining 1.9% against the dollar over three weeks. The Reserve Bank of India bought dollars to build reserves, adding $1.6 billion in the week through 3 February.
Stock and bond inflows and a fiscally prudent budget supported the rally.
A stronger rupee lowers the local-currency cost of dollar-denominated imports, while central bank dollar buying limits how far the rupee can appreciate. The net effect is a mildly bearish signal for USD/INR.
livemint.comKartik GoyalFeb 14, 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.
