# Indian rupee poised to test record low as oil prices, US yields climb - Markets - Business Recorder

> The Indian rupee is expected to open near its record low of 83.29 as crude oil prices surged and U.S. Treasury yields rose. Brent rose 0.8% to $97.32, up about 12% in September, and the 10-year U.S. yield reached a 16-year high of 4.61%, while the dollar index hovered near 106.84.

- Date: 2023-09-28 · published 2023-09-28T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/34393-indian-rupee-poised-to-test-record-low-as-oil-prices-us-yields-climb-markets
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher crude prices raise India's energy and freight costs, and firmer U.S. yields strengthen the dollar against emerging currencies. Both raise the cost of imported feed for Indian buyers.

## Read by commodity

- DXY: bullish ▲
- BRENT: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-10-30 | [India rupee likely to struggle despite relief for Asian peers - Markets - Business Recorder](https://feedsoft.ai/events/33909-india-rupee-likely-to-struggle-despite-relief-for-asian-peers-markets-business.md) | -4.9% | -11.5% |
| BRENT | 2022-01-27 | [Bond yields rise, rupee falls on US Federal Reserve policy and crude prices \| News on Markets - Business Standard](https://feedsoft.ai/events/43416-bond-yields-rise-rupee-falls-on-us-federal-reserve-policy-and-crude-prices-news.md) | -0.2% | +8.2% |
| 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% |
| BRENT | 2026-04-30 | [Rupee hits fresh low past 95/$ as oil surge pushes bond yields above 7% \| Markets News - Business Standard](https://feedsoft.ai/events/20011-rupee-hits-fresh-low-past-95-as-oil-surge-pushes-bond-yields-above-7-markets.md) | -15.3% | -21.9% |
| BRENT | 2023-04-03 | [Palm posts biggest jump in two months after crude oil rally - Markets - Business Recorder](https://feedsoft.ai/events/36512-palm-posts-biggest-jump-in-two-months-after-crude-oil-rally-markets-business.md) | +7.4% | +1.0% |
| DXY | 2022-10-21 | [Indian rupee little changed after initial losses; US yields, RBI eyed - Markets - Business Recorder](https://feedsoft.ai/events/39422-indian-rupee-little-changed-after-initial-losses-us-yields-rbi-eyed-markets.md) | -1.0% | -3.2% |
| DXY | 2023-06-30 | [Indian rupee to struggle on more Fed rate hike bets; US yields surge - Markets - Business Recorder](https://feedsoft.ai/events/35782-indian-rupee-to-struggle-on-more-fed-rate-hike-bets-us-yields-surge-markets.md) | -0.4% | -1.5% |
| DXY | 2024-03-15 | [Indian rupee poised to weaken as Fed rate cut expectations recede more - Markets - Business Recorder](https://feedsoft.ai/events/31480-indian-rupee-poised-to-weaken-as-fed-rate-cut-expectations-recede-more-markets.md) | +0.5% | +1.1% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40265569

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