# Indian rupee logs sharpest daily decline on dollar demand - Business & Finance - Business Recorder

> The Indian rupee closed at 83.47 per US dollar on Monday, down 0.16% after month-end dollar demand from importers. The dollar index slipped 0.3% to 105.6 after the yen recovered from a 34-year low on suspected Japanese intervention.

- Date: 2024-04-29 · published 2024-04-29T12:00:00.000Z
- Category: market · region India · magnitude low
- Page: https://feedsoft.ai/events/31009-indian-rupee-logs-sharpest-daily-decline-on-dollar-demand-business-and-finance
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Currency moves of this size have little direct effect on grain prices, but a firmer rupee-dollar rate marginally raises India's import costs for energy and edible oils.

## Read by commodity

- DXY: neutral
- USDINR: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40300959

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