Loading…
The rupee crossed 68 against the dollar on November 18 after Fed Chair Janet Yellen said the November policy assessment still held, implying a likely December rate hike. Strong US housing data and a drop in jobless claims reinforced the view of a firmer US economy.
The rupee had also been pressured by the demonetisation drive and emerging-market outflows.
Expectations of a Fed hike support a stronger dollar, which raises the rupee cost of dollar-priced feed imports. Analysts expected the rupee to test 68.1 in the near term.
business-standard.comBusiness StandardNov 18, 2016Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
