# India rupee to rally after data reaffirms Fed done with rate hikes

> The rupee was expected to rise at the open on November 6 after softer-than-expected US jobs data reinforced expectations that the Federal Reserve would not hike rates again. Non-deliverable forwards pointed to a level near 83.08-83.12 per dollar, versus 83.285 the previous session.

- Date: 2023-11-06 · published 2023-11-06T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/33471-india-rupee-to-rally-after-data-reaffirms-fed-done-with-rate-hikes
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A stronger rupee lowers the cost of dollar-priced feed imports for India. The move reflects US rate expectations rather than a change in grain supply.

## Read by commodity

- USDINR: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/india-rupee-rally-after-data-reaffirms-fed-done-with-rate-hikes-2023-11-06/

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