# Indian Rupee Hits Record Low as Broad Dollar Strength Weighs

> The Indian rupee fell 0.3% to 83.67 per dollar, an all-time low, as broad dollar strength weighed on emerging Asian currencies. The break came past the previous low of 83.575 set in April.

- Date: 2024-07-01 · published 2024-07-01T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/30073-indian-rupee-hits-record-low-as-broad-dollar-strength-weighs
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A record-low rupee makes dollar-priced imports more expensive for India, which can reduce its buying of vegetable oils and meal and pressure global prices somewhat.

## Read by commodity

- SBO: bearish ▼
- USDINR: bullish ▲
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2022-04-22 | [Wall Street dives, dollar jumps as rate hikes take spotlight \| Reuters](https://feedsoft.ai/events/7375-wall-street-dives-dollar-jumps-as-rate-hikes-take-spotlight-reuters.md) | +3.2% | -4.4% |
| SBO | 2022-07-12 | [Dollar rises to 20-year highs, sends grains lower – The Seam](https://feedsoft.ai/events/5974-dollar-rises-to-20-year-highs-sends-grains-lower-the-seam.md) | -1.6% | +1.3% |
| SBO | 2022-09-28 | [Palm hits lowest in over 1-1/2 years as recession fears dent demand - Markets - Business Recorder](https://feedsoft.ai/events/39674-palm-hits-lowest-in-over-1-1-2-years-as-recession-fears-dent-demand-markets.md) | +2.6% | +9.3% |
| SBO | 2025-02-19 | [Renewable diesel industry runs into headwinds \| The Western Producer](https://feedsoft.ai/events/15145-renewable-diesel-industry-runs-into-headwinds-the-western-producer.md) | -0.6% | -5.7% |
| SBO | 2022-03-16 | [Palm extends losses - Markets - Business Recorder](https://feedsoft.ai/events/5497-palm-extends-losses-markets-business-recorder.md) | +1.2% | +259.3% |
| PALMOIL | 2018-10-03 | [Indonesian rupiah falls to record low amid rising pressures \| The Straits Times](https://feedsoft.ai/events/62836-indonesian-rupiah-falls-to-record-low-amid-rising-pressures-the-straits-times.md) | +1.6% | +1.4% |
| PALMOIL | 2022-04-20 | [Ringgit touches near two-year low, Asian stocks track Wall St strength \| Malaysiakini](https://feedsoft.ai/events/42105-ringgit-touches-near-two-year-low-asian-stocks-track-wall-st-strength.md) | -1.5% | -2.9% |
| PALMOIL | 2022-09-28 | [Palm hits lowest in over 1-1/2 years as recession fears dent demand - Markets - Business Recorder](https://feedsoft.ai/events/39674-palm-hits-lowest-in-over-1-1-2-years-as-recession-fears-dent-demand-markets.md) | -4.7% | +1.1% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-06-20/indian-rupee-hits-record-low-as-broad-dollar-strength-weighs

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