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An analysis by Jamal Mecklai argues that the rupee is still far from internationalisation. The rupee ranked 18th among global currencies by trading volume in 2016, at $56 billion a day, or 1.1% of global turnover.
Volumes grew only 56% between 2010 and 2016, lagging the renminbi's rapid growth.
This is a structural commentary on currency market depth rather than a shift in near-term supply or demand. It has no direct effect on feed commodity prices.
thequint.comJamal Mecklai, BloombergQuintFeb 22, 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.
