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The Indian rupee closed at 94.90 per dollar on November 2, little changed from 94.95, as traders stayed cautious despite lower oil and a weaker dollar. Brent fell over 4% to $108.3 on hopes of a deal to end the Iran war, after Iranian negotiators left Doha talks and a draft proposal was circulated.
A lower oil import bill would normally support India's currency, but the muted rupee response shows that FX sentiment is still driven by uncertainty. For feed buyers, the rupee's path affects the cost of imported feed ingredients and the purchasing power of Indian buyers.
brecorder.comNov 2, 2026
thehindubusinessline.comPTINov 2, 2026Not enough comparable past events yet for a historical read.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
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.
