# INDIA RUPEE-Importer hedging impedes rupee's upside momentum; premiums fall more | Kitco News

> The rupee slipped to 82.05 per dollar as importers kept hedging near-term dollar payables. Traders said the currency could face pressure above 82.20, and markets priced near 70% odds of a Fed hike in May.

- Date: 2023-04-11 · published 2023-04-11T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/36661-india-rupee-importer-hedging-impedes-rupee-and-apos-s-upside-momentum-premiums
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Persistent dollar demand from oil importers signals a weaker rupee, which raises India's import costs for energy and dollar-priced feed inputs.

## Read by commodity

- USDINR: bullish ▲

## Sources

- kitco.com: https://www.kitco.com/news/off-the-wire/2023-04-11/india-rupee-importer-hedging-impedes-rupeeaposs-upside-momentum

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