# Indian rupee counts on support from central bank before Fed policy decision - Markets - Business Recorder

> The Indian rupee was expected to open broadly flat on Tuesday, with dollar demand and likely central bank support limiting moves near its record low of 83.50. The yen was volatile after a suspected Japanese intervention, and traders were awaiting the Federal Reserve's policy decision on Wednesday, which was widely expected to hold rates.

- Date: 2024-04-30 · published 2024-04-30T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/31008-indian-rupee-counts-on-support-from-central-bank-before-fed-policy-decision
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker rupee raises India's import costs and can influence Indian demand for dollar-priced commodities, while a firm dollar on Fed hold expectations generally pressures dollar-denominated grain and oilseed prices.

## Read by commodity

- DXY: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-04-17 | [Indian rupee declines as dollar jumps on Fed policy reassessment - Markets - Business Recorder](https://feedsoft.ai/events/36659-indian-rupee-declines-as-dollar-jumps-on-fed-policy-reassessment-markets.md) | +0.4% | +0.4% |
| DXY | 2025-10-27 | [Indian rupee outshines peers on RBI support, importers pile in - Markets - Business Recorder](https://feedsoft.ai/events/22695-indian-rupee-outshines-peers-on-rbi-support-importers-pile-in-markets-business.md) | +0.4% | +0.8% |
| DXY | 2022-09-26 | [Indian rupee at record low, with central bank likely helping cap slide - Markets - Business Recorder](https://feedsoft.ai/events/39851-indian-rupee-at-record-low-with-central-bank-likely-helping-cap-slide-markets.md) | +0.2% | +0.6% |
| DXY | 2023-06-30 | [Indian rupee to struggle on more Fed rate hike bets; US yields surge - Markets - Business Recorder](https://feedsoft.ai/events/35782-indian-rupee-to-struggle-on-more-fed-rate-hike-bets-us-yields-surge-markets.md) | -0.4% | -1.5% |
| DXY | 2024-04-26 | [Indian rupee to see muted reaction to US inflation flare-up - Markets - Business Recorder](https://feedsoft.ai/events/31014-indian-rupee-to-see-muted-reaction-to-us-inflation-flare-up-markets-business.md) | -0.3% | -0.9% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40301063

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