# Indian rupee closes down; forward premiums hover around 2023-lows - Markets - Business Recorder

> The Indian rupee closed lower on May 30, 2023, at 82.71 per dollar, weighed by broad dollar strength and weakness in the Chinese yuan, which fell past 7.10 per dollar. The rupee was down about 1.1% in May, and the 1-year forward premium hovered near 2023 lows. Traders said the RBI likely intervened to limit losses.

- Date: 2023-05-30 · published 2023-05-30T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/36227-indian-rupee-closes-down-forward-premiums-hover-around-2023-lows-markets
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker rupee raises the local-currency cost of imported feed ingredients for India and can shift Indian import demand for feed grains and meals. The move is a routine currency wrap with limited direct effect on global feed prices.

## Read by commodity

- DXY: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-09-28 | [Indian rupee poised to test record low as oil prices, US yields climb - Markets - Business Recorder](https://feedsoft.ai/events/34393-indian-rupee-poised-to-test-record-low-as-oil-prices-us-yields-climb-markets.md) | +0.5% | +0.8% |
| DXY | 2023-04-17 | [Indian rupee declines as dollar jumps on Fed policy reassessment - Markets - Business Recorder](https://feedsoft.ai/events/36659-indian-rupee-declines-as-dollar-jumps-on-fed-policy-reassessment-markets.md) | +0.4% | +0.4% |
| DXY | 2022-09-26 | [Indian rupee at record low, with central bank likely helping cap slide - Markets - Business Recorder](https://feedsoft.ai/events/39851-indian-rupee-at-record-low-with-central-bank-likely-helping-cap-slide-markets.md) | +0.2% | +0.6% |
| 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 | 2025-10-27 | [Indian rupee outshines peers on RBI support, importers pile in - Markets - Business Recorder](https://feedsoft.ai/events/22695-indian-rupee-outshines-peers-on-rbi-support-importers-pile-in-markets-business.md) | +0.4% | +0.8% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40245002

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