# Rupee ducks slump in EM currencies, but crude, dollar threats loom

> The rupee has lost only about 0.5% against the dollar this year, while the Chinese yuan has fallen around 6% and many emerging market currencies have slumped. Analysts expect the rupee to be pulled between high crude prices and firm U.S. rates on one side and JPMorgan index inflows and possible RBI intervention on the other.

- Date: 2023-09-28 · published 2023-09-28T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/34391-rupee-ducks-slump-in-em-currencies-but-crude-dollar-threats-loom
- 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

Weakness in the yuan and other emerging Asian currencies could pressure regional currencies further, while higher crude prices raise India's import costs. The net effect on feed prices is uncertain.

## Read by commodity

- USDCNY: bullish ▲
- USDINR: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-04-16 | [Resurgent Dollar, Higher Yields Send EM Currencies to 2024 Lows - Bloomberg](https://feedsoft.ai/events/11278-resurgent-dollar-higher-yields-send-em-currencies-to-2024-lows-bloomberg.md) | +0.0% | -0.1% |
| USDCNY | 2023-01-17 | [Indian rupee weakens on yuan-led slide on Asian currencies - Markets - Business Recorder](https://feedsoft.ai/events/38053-indian-rupee-weakens-on-yuan-led-slide-on-asian-currencies-markets-business.md) | +1.3% | +1.8% |
| USDCNY | 2021-09-20 | [Evergrande jitters pull risk currencies lower, dollar gains on safety bid](https://feedsoft.ai/events/45274-evergrande-jitters-pull-risk-currencies-lower-dollar-gains-on-safety-bid.md) | +0.0% | -0.6% |
| USDCNY | 2024-12-03 | [China’s yuan hits lowest level in months as Trump tariff threats roil currencies \| South China Morning Post](https://feedsoft.ai/events/27171-china-s-yuan-hits-lowest-level-in-months-as-trump-tariff-threats-roil.md) | -0.2% | +0.4% |
| USDCNY | 2024-03-27 | [Asian currencies at multi-month lows against US dollar; stocks mixed - Markets - Business Recorder](https://feedsoft.ai/events/31453-asian-currencies-at-multi-month-lows-against-us-dollar-stocks-mixed-markets.md) | +0.2% | +0.4% |

## Sources

- moneycontrol.com: https://www.moneycontrol.com/news/business/markets/rupee-ducks-slump-in-em-currencies-but-crude-dollar-threats-loom-11445241.html

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