# Indian rupee set for monthly decline, premiums little changed in July | Khaleej Times

> The Indian rupee dropped on Monday and was set for a monthly decline, trading near 82.26 per dollar. The RBI reportedly bought dollars around 81.70-81.75 to prevent appreciation, and Brent crude rose about 12.5% in July.

- Date: 2023-07-31 · published 2023-07-31T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/35312-indian-rupee-set-for-monthly-decline-premiums-little-changed-in-july-khaleej
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A weaker rupee raises the local cost of imported feed inputs such as soymeal and corn, while higher crude supports biofuel-linked demand and freight costs.

## Read by commodity

- BRENT: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-04-18 | [Why is the Indian rupee at a seven-month low?](https://feedsoft.ai/events/65796-why-is-the-indian-rupee-at-a-seven-month-low.md) | +4.5% | +9.8% |
| 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 | 2018-07-01 | [Indian rupee breaks 69 vs dollar for first time; down over 8% in 2018](https://feedsoft.ai/events/64796-indian-rupee-breaks-69-vs-dollar-for-first-time-down-over-8-in-2018.md) | -3.1% | -4.9% |
| BRENT | 2019-07-31 | [Stocks sink after Fed dents hopes for multiple interest-rate cuts - Los Angeles Times](https://feedsoft.ai/events/58018-stocks-sink-after-fed-dents-hopes-for-multiple-interest-rate-cuts-los-angeles.md) | -7.6% | -7.3% |
| 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% |

## Sources

- khaleejtimes.com: https://www.khaleejtimes.com/business/markets/indian-rupee-set-for-monthly-decline-premiums-little-changed-in-july

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