# Indian rupee to follow Asian FX higher, RBI key factor in 2024 - Markets - Business Recorder

> The rupee was expected to open marginally higher on a Friday, tracking gains in Asian currencies on bets of an early Federal Reserve pivot. Other Asian currencies rose 0.2% to 0.5%, and the offshore yuan hit its highest since June.

- Date: 2023-12-29 · published 2023-12-29T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/33005-indian-rupee-to-follow-asian-fx-higher-rbi-key-factor-in-2024-markets-business
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Regional currency strength combined with an RBI that limits rupee moves keeps import costs for Indian feed buyers relatively stable. Expected Fed cuts are the main driver of the broader dollar weakness.

## Read by commodity

- USDCNY: bearish ▼
- USDINR: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2026-07-31 | [Yuan rises to 1-1/2-month high - Markets - Business Recorder](https://feedsoft.ai/events/18572-yuan-rises-to-1-1-2-month-high-markets-business-recorder.md) | -0.1% | -0.5% |
| USDCNY | 2020-07-31 | [Yuan closes trade at 4-1/2-month high - Markets - Business Recorder](https://feedsoft.ai/events/52323-yuan-closes-trade-at-4-1-2-month-high-markets-business-recorder.md) | -0.8% | -1.6% |
| USDCNY | 2021-07-15 | [China's yuan inches higher, GDP data caps gains - Markets - Business Recorder](https://feedsoft.ai/events/46289-china-s-yuan-inches-higher-gdp-data-caps-gains-markets-business-recorder.md) | -0.0% | +0.1% |
| USDCNY | 2021-05-31 | [China lifts yuan midpoint to new 3 year high, basket index at highest since 2016 - Markets - Business Recorder](https://feedsoft.ai/events/47318-china-lifts-yuan-midpoint-to-new-3-year-high-basket-index-at-highest-since-2016.md) | +0.5% | +1.4% |
| USDCNY | 2023-08-29 | [China’s yuan firms in tight range as investors await key economic data - Markets - Business Recorder](https://feedsoft.ai/events/34801-china-s-yuan-firms-in-tight-range-as-investors-await-key-economic-data-markets.md) | +0.2% | +0.3% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40281089

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