# Indian central bank likely sold dollars to keep rupee from record low - Markets - Business Recorder

> Analysts said Indian equity markets had not fully priced in rupee weakness as the dollar hovered near a two-month high. The US 10-year yield reached a 17-year high of 4.35%. Analysts expected a hawkish message from Fed Chair Powell at Jackson Hole to add pressure.

- Date: 2023-08-17 · published 2023-08-17T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/34868-indian-central-bank-likely-sold-dollars-to-keep-rupee-from-record-low-markets
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Higher US yields and a stronger dollar raise the cost of imported dollar-priced inputs for India. This is a macro risk signal with no direct effect on feed supply.

## Read by commodity

- USDINR: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40258361

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