# Indian rupee hits record low on US yield worries, weak Asia FX - The HinduBusinessLine

> The rupee fell to a record closing low of 83.29 per dollar on November 1 ahead of the Federal Reserve's rate decision. Heavy dollar demand, elevated US Treasury yields and equity outflows weighed on the currency. The Reserve Bank of India had intervened in the forwards and spot markets.

- Date: 2023-11-01 · published 2023-11-01T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/33473-indian-rupee-hits-record-low-on-us-yield-worries-weak-asia-fx-the
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A weaker rupee raises the dollar cost of imported feed ingredients for India. The currency pressure reflects US rate expectations and capital flows rather than a grain supply change.

## Read by commodity

- USDINR: bullish ▲

## Sources

- thehindubusinessline.com: https://www.thehindubusinessline.com/markets/forex/indian-rupee-hits-record-low-on-us-yield-worries-weak-asia-fx/article67484426.ece

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