# Rupee Hits New Low As Dollar Demand Clamps Down - Finimize

> The rupee hit a new low of 83.4875 per dollar on June 26 as persistent dollar demand from public sector banks, linked to currency futures expiry, pushed it down. Concerns about high US interest rates and hawkish Fed comments added pressure.

- Date: 2024-06-26 · published 2024-06-26T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/30078-rupee-hits-new-low-as-dollar-demand-clamps-down-finimize
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A weaker rupee raises India's dollar import costs, which can slow purchases of vegetable oils and meal and weigh slightly on global prices.

## Read by commodity

- USDINR: bullish ▲

## Sources

- finimize.com: https://finimize.com/content/rupee-hits-new-low-as-dollar-demand-clamps-down

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