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Short-term technical analysis sees the rupee holding a positive view after two weeks of gains, with upside capped near 66 and a 66-68.85 range expected. The RBI kept rates unchanged, contrary to expectations of a cut, which supported the currency.
The dollar index rose about 1.6% from near 99.2 to around 100.75.
Technical support and the RBI's hold point to a firmer rupee, which lowers the local cost of imported dollar-priced feed ingredients. The dollar index rebound limits the rupee's gains.
thehindubusinessline.comGurumurthy KFeb 13, 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.
