# Rupee declines as uptick in US bond yields squeezes most Asian peers

> The Indian rupee weakened on Monday to 83.46 per dollar as a jump in US bond yields pressured Asian currencies. Traders cited Trump's chances of a second term as a factor pushing yields higher.

- Date: 2024-07-01 · published 2024-07-01T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/29567-rupee-declines-as-uptick-in-us-bond-yields-squeezes-most-asian-peers
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Rising US yields strengthen the dollar and raise the local-currency cost of dollar-priced feed imports for India, a modest bullish effect on the dollar side.

## Read by commodity

- DXY: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-09-28 | [Indian rupee poised to test record low as oil prices, US yields climb - Markets - Business Recorder](https://feedsoft.ai/events/34393-indian-rupee-poised-to-test-record-low-as-oil-prices-us-yields-climb-markets.md) | +0.5% | +0.8% |
| DXY | 2024-05-29 | [Rupee seen extending declines on higher US yields; dollar at 2-week high - The Pound Hub](https://feedsoft.ai/events/30564-rupee-seen-extending-declines-on-higher-us-yields-dollar-at-2-week-high-the.md) | +1.1% | +2.3% |
| DXY | 2026-04-29 | [Silver declines as Fed keeps interest rates steady, yields and USD strengthen](https://feedsoft.ai/events/19647-silver-declines-as-fed-keeps-interest-rates-steady-yields-and-usd-strengthen.md) | -0.1% | +0.3% |
| DXY | 2018-10-19 | [Rupee opens tad lower against US dollar, bond yields fall - CNBC TV18](https://feedsoft.ai/events/62814-rupee-opens-tad-lower-against-us-dollar-bond-yields-fall-cnbc-tv18.md) | +0.6% | +1.0% |
| DXY | 2023-10-26 | [Ringgit reverses gains on increasing US bond yields \| Scoop](https://feedsoft.ai/events/33893-ringgit-reverses-gains-on-increasing-us-bond-yields-scoop.md) | +0.0% | -2.9% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/rupee-declines-uptick-us-bond-yields-squeezes-most-asian-peers-2024-07-01/

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