# Indian rupee battles persistent dollar demand in face of dovish Fed outlook - Markets - Business Recorder

> The rupee was expected to open little changed on November 30 as persistent dollar demand from importers offset expectations of Fed rate cuts. The dollar index fell about 3.6% in November while USD/INR edged higher. Markets fully priced a 25 basis point cut by May 2024 after dovish Fed comments.

- Date: 2023-11-30 · published 2023-11-30T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/33470-indian-rupee-battles-persistent-dollar-demand-in-face-of-dovish-fed-outlook
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The rupee's failure to follow the dollar's decline keeps Indian import costs for feed ingredients high. The currency's lag against the broader dollar trend is a cost factor for buyers.

## Read by commodity

- DXY: bearish ▼
- USDINR: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-11-24 | [Canadian dollar steadies as investors cheer Fed’s dovish signal - Markets - Business Recorder](https://feedsoft.ai/events/38909-canadian-dollar-steadies-as-investors-cheer-fed-s-dovish-signal-markets.md) | -1.4% | -1.2% |
| DXY | 2023-04-13 | [Indian rupee firms as cooling US inflation, recession woes hurt dollar - Markets - Business Recorder](https://feedsoft.ai/events/36660-indian-rupee-firms-as-cooling-us-inflation-recession-woes-hurt-dollar-markets.md) | +0.3% | -0.4% |
| DXY | 2021-07-28 | [Havens favoured as China jitters persist; dollar waits for Fed - Markets - Business Recorder](https://feedsoft.ai/events/45976-havens-favoured-as-china-jitters-persist-dollar-waits-for-fed-markets-business.md) | -0.4% | +0.4% |
| DXY | 2022-12-15 | [Dollar falters as investors challenge Fed’s hawkishnes - Markets - Business Recorder](https://feedsoft.ai/events/38421-dollar-falters-as-investors-challenge-fed-s-hawkishnes-markets-business-recorder.md) | +0.4% | -2.2% |
| DXY | 2023-11-29 | [South African rand gains after dovish Fed talk, central bank data in sight - Markets - Business Recorder](https://feedsoft.ai/events/33450-south-african-rand-gains-after-dovish-fed-talk-central-bank-data-in-sight.md) | +1.0% | -0.9% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40275985

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