# India rupee likely to struggle despite relief for Asian peers - Markets - Business Recorder

> The Indian rupee was expected to open slightly weaker near 83.27-83.28 per dollar on Monday, with NDF pricing near a record low of 83.29. Traders cited oil prices and dollar demand as reasons for underperformance versus Asian peers.

- Date: 2023-10-30 · published 2023-10-30T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/33909-india-rupee-likely-to-struggle-despite-relief-for-asian-peers-markets-business
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Rupee weakness linked to oil and dollar demand raises the local cost of imported feed inputs and supports the dollar's value against Indian import budgets.

## Read by commodity

- BRENT: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-09-28 | [Indian rupee poised to test record low as oil prices, US yields climb - Markets - Business Recorder](https://feedsoft.ai/events/34393-indian-rupee-poised-to-test-record-low-as-oil-prices-us-yields-climb-markets.md) | -9.3% | -6.9% |
| BRENT | 2024-02-09 | [Indian rupee weakens slightly on dollar demand from state-run banks, importers - Markets - Business Recorder](https://feedsoft.ai/events/31968-indian-rupee-weakens-slightly-on-dollar-demand-from-state-run-banks-importers.md) | +1.5% | +1.9% |
| BRENT | 2021-01-04 | [Fitch Solutions revises forecast, says Indian rupee to trade weaker in 2021 \| Money & Forex Markets - Business Standard](https://feedsoft.ai/events/49441-fitch-solutions-revises-forecast-says-indian-rupee-to-trade-weaker-in-2021.md) | +8.2% | +7.9% |
| BRENT | 2023-04-04 | [Malaysia, Indonesia currencies gain on OPEC+ target cut - Markets - Business Recorder](https://feedsoft.ai/events/36682-malaysia-indonesia-currencies-gain-on-opec-target-cut-markets-business-recorder.md) | +1.3% | -11.0% |
| BRENT | 2018-06-28 | [Indian rupee hits record low against US dollar; RBI intervenes - The Business Times](https://feedsoft.ai/events/64797-indian-rupee-hits-record-low-against-us-dollar-rbi-intervenes-the-business-times.md) | +0.7% | -4.0% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40270702

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