# Indian rupee declines as dollar jumps on Fed policy reassessment - Markets - Business Recorder

> The rupee weakened to around 81.94 per dollar as the dollar index rebounded from a one-year low. Traders pointed to rising expectations of another Fed rate hike at the May meeting and higher oil prices.

- Date: 2023-04-17 · published 2023-04-17T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/36659-indian-rupee-declines-as-dollar-jumps-on-fed-policy-reassessment-markets
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A stronger dollar and higher rate expectations tend to pressure dollar-priced grain and oilseed markets, while higher oil prices lift biofuel-linked demand.

## Read by commodity

- DXY: bullish ▲
- WTI: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-04-30 | [Indian rupee counts on support from central bank before Fed policy decision - Markets - Business Recorder](https://feedsoft.ai/events/31008-indian-rupee-counts-on-support-from-central-bank-before-fed-policy-decision.md) | -0.5% | -0.9% |
| DXY | 2024-11-21 | [Dollar pulls ahead as markets focus on Trump policies, Fed outlook - Markets - Business Recorder](https://feedsoft.ai/events/27609-dollar-pulls-ahead-as-markets-focus-on-trump-policies-fed-outlook-markets.md) | -0.0% | +1.4% |
| DXY | 2024-01-31 | [Indian rupee to weaken as odds of Fed rate cut in March diminish - Markets - Business Recorder](https://feedsoft.ai/events/32382-indian-rupee-to-weaken-as-odds-of-fed-rate-cut-in-march-diminish-markets.md) | +0.3% | +0.4% |
| DXY | 2022-06-13 | [China’s yuan slips to 2-week low as dollar jumps on inflation data - Markets - Business Recorder](https://feedsoft.ai/events/41171-china-s-yuan-slips-to-2-week-low-as-dollar-jumps-on-inflation-data-markets.md) | +1.0% | +2.9% |
| DXY | 2024-04-26 | [Indian rupee to see muted reaction to US inflation flare-up - Markets - Business Recorder](https://feedsoft.ai/events/31014-indian-rupee-to-see-muted-reaction-to-us-inflation-flare-up-markets-business.md) | -0.3% | -0.9% |
| WTI | 2021-02-24 | [Canadian dollar notches 3-year high as oil climbs - Markets - Business Recorder](https://feedsoft.ai/events/48891-canadian-dollar-notches-3-year-high-as-oil-climbs-markets-business-recorder.md) | -3.2% | -6.3% |
| WTI | 2021-03-29 | [Canadian dollar dips as hedge fund default crimps risk appetite - Markets - Business Recorder](https://feedsoft.ai/events/48367-canadian-dollar-dips-as-hedge-fund-default-crimps-risk-appetite-markets.md) | -3.7% | +1.7% |
| WTI | 2021-05-28 | [Canadian dollar falls as investors weigh US inflation surge - Markets - Business Recorder](https://feedsoft.ai/events/47328-canadian-dollar-falls-as-investors-weigh-us-inflation-surge-markets-business.md) | +4.1% | +10.9% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40237544

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