# Rupee slips 1 paisa to close at record low of 83.10 against dollar on forex outflows

> The Reserve Bank of India likely sold dollars through public sector banks to stop the rupee from falling to a record low. The rupee was quoted at 83.025 against the dollar. Traders said the intervention would limit depreciation below 83.25.

- Date: 2023-08-20 · published 2023-08-20T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/34867-rupee-slips-1-paisa-to-close-at-record-low-of-83-10-against-dollar-on-forex
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Central bank intervention caps rupee weakness, which limits the rise in the local cost of imported feed. The effect on commodity prices is small.

## Read by commodity

- USDINR: neutral

## Sources

- moneycontrol.com: https://www.moneycontrol.com/news/business/markets/rupee-slips-1-paisa-to-close-at-record-low-of-83-10-against-dollar-on-forex-outflows-11225681.html

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