On the weekly timeframe prices were in a strong uptrend from May 2020, Post September 2021 prices witnessed a pause in the trend. Prices are currently trading at its all-time high level which indicates that prices are in a strong momentum.
Indian exporters are calling on the government to lift the cap on interest subvention. They state current support is insufficient to counter rising global trade
The rupee hit a one-week high as expectations of RBI measures to curb oil refiners’ dollar demand boosted sentiment and eased pressure on the currency.
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