# Rupee to inch up after Powell's speech, key US data eyed

> The Indian rupee was expected to edge higher on Monday ahead of US Federal Reserve Chair Powell's speech and key US data. The dollar index was at 104.06 and Brent crude was down 0.1% at $84.40 a barrel. Foreign investors bought a net $267.2 million of Indian shares on August 24.

- Date: 2023-08-28 · published 2023-08-28T12:00:00.000Z
- Category: market · region India · magnitude low
- Page: https://feedsoft.ai/events/34863-rupee-to-inch-up-after-powell-s-speech-key-us-data-eyed
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

This is routine currency commentary with no direct effect on feed grain supply or demand. A firmer rupee slightly lowers the local-currency cost of imported feed ingredients, but the effect is minor.

## Read by commodity

- USDINR: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/rupee-inch-up-after-powells-speech-key-us-data-eyed-2023-08-28/

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