# Rupee hits record low on month-end dollar demand; RBI helps cap losses – ThePrint – ReutersFeed

> The Indian rupee hit a record low of 83.74 per dollar on Monday, pressured by month-end corporate dollar demand. The Reserve Bank of India likely sold dollars via state-run banks to cap losses.

- Date: 2024-07-29 · published 2024-07-29T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/29565-rupee-hits-record-low-on-month-end-dollar-demand-rbi-helps-cap-losses-theprint
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A weaker rupee lowers India's import costs in dollar terms only at the margin, but it signals sustained pressure on Indian buyers of dollar-priced feed inputs and can encourage Indian export selling of commodities like rice and meal.

## Read by commodity

- USDINR: bullish ▲

## Sources

- theprint.in: https://theprint.in/india/rupee-hits-record-low-on-month-end-dollar-demand-rbi-helps-cap-losses/2196528/

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