# Explainer: Why rupee hit record low against US dollar - Times of India

> The rupee hit a record low of 83.6650 per dollar before settling at 83.6425, driven by equity outflows, importer dollar demand, and broad dollar strength. Foreigners had sold a net $2.6 billion of local equities that year.

- Date: 2024-06-20 · published 2024-06-20T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/30076-explainer-why-rupee-hit-record-low-against-us-dollar-times-of-india
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Currency weakness raises India's import costs for dollar-priced commodities, which can curb buying and modestly pressure global feed-ingredient prices.

## Read by commodity

- USDINR: bullish ▲

## Sources

- timesofindia.indiatimes.com: https://timesofindia.indiatimes.com/business/india-business/explainer-why-rupee-hit-record-low-against-us-dollar/articleshow/111137998.cms

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