# USD/INR climbs ahead of Indian GDP data, Indian Rupee tumbles to near record low

> The rupee weakened toward a record low on Friday as US Treasury yields rose, month-end dollar demand from importers increased, and foreign investors sold Indian equities. Foreign investors withdrew about $1.4 billion from Indian equities on Thursday, and India's Q2 GDP and fiscal deficit data were due later that day.

- Date: 2024-11-29 · published 2024-11-29T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/27704-usd-inr-climbs-ahead-of-indian-gdp-data-indian-rupee-tumbles-to-near-record-low
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Persistent outflows and dollar demand push up the cost of imported goods priced in dollars. A weak GDP print could add to pressure, while a strong one could limit the rupee's losses.

## Read by commodity

- USDINR: bullish ▲

## Sources

- fxstreet.com: https://www.fxstreet.com/news/usd-inr-extends-downside-ahead-of-indian-gdp-data-202411290330

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.