# Rupee likely to appreciate towards 82.40 level in March quarter, dollar index may test 96-97 range: Analyst

> An analyst expects the rupee to strengthen toward 82.40 per dollar in the January-March 2024 quarter, trading in a 82.40-83.40 range. The analyst also sees the dollar index possibly testing 96-97 and cites geopolitics and central bank decisions as main drivers.

- Date: 2024-02-01 · published 2024-02-01T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/32384-rupee-likely-to-appreciate-towards-82-40-level-in-march-quarter-dollar-index
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expected rupee appreciation would lower India's cost of dollar-denominated feed and oilseed imports. The outlook is a forecast with little direct effect on commodity prices.

## Read by commodity

- DXY: bearish ▼
- USDINR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-03-29 | [SMU Currency Analysis: Dollar Weakens in Last Three Months - Steel Market Update](https://feedsoft.ai/events/60264-smu-currency-analysis-dollar-weakens-in-last-three-months-steel-market-update.md) | -0.3% | +0.4% |
| DXY | 2025-06-26 | [Rand rallies to best level in 7 months as Trump’s Fed comment hits dollar \| News24](https://feedsoft.ai/events/24499-rand-rallies-to-best-level-in-7-months-as-trump-s-fed-comment-hits-dollar-news24.md) | -0.9% | -0.6% |
| DXY | 2025-03-18 | [Rand hits best level in months as dollar suffers Trump slump \| News24](https://feedsoft.ai/events/25856-rand-hits-best-level-in-months-as-dollar-suffers-trump-slump-news24.md) | +0.7% | -1.4% |
| DXY | 2019-02-18 | [SMU Currency Analysis: U.S. Dollar Weakens in the Last Three Months - Steel Market Update](https://feedsoft.ai/events/60770-smu-currency-analysis-u-s-dollar-weakens-in-the-last-three-months-steel-market.md) | -0.8% | -0.7% |
| DXY | 2021-08-27 | [Dollar depreciation unlikely to last \| Capital Economics](https://feedsoft.ai/events/45478-dollar-depreciation-unlikely-to-last-capital-economics.md) | -0.9% | -0.0% |

## Sources

- livemint.com: https://www.livemint.com/market/stock-market-news/rupee-likely-to-appreciate-towards-82-40-level-in-march-quarter-dollar-index-may-test-96-97-range-analyst-11705999939640.html

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