# Rupee slides as Federal Reserve's Powell hints at higher US terminal rates | Money & Forex Markets - Business Standard

> The rupee weakened to 82.20 per dollar after Fed Chair Powell signaled higher-than-expected terminal rates. The dollar index rose to a three-month high, and markets priced a high chance of a 50 bp hike in March.

- Date: 2023-03-08 · published 2023-03-08T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/37142-rupee-slides-as-federal-reserve-s-powell-hints-at-higher-us-terminal-rates
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A stronger dollar on higher US rates tends to pressure dollar-priced commodities and raise import costs for emerging markets. The effect on feed prices is moderate.

## Read by commodity

- DXY: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-01-27 | [Bond yields rise, rupee falls on US Federal Reserve policy and crude prices \| News on Markets - Business Standard](https://feedsoft.ai/events/43416-bond-yields-rise-rupee-falls-on-us-federal-reserve-policy-and-crude-prices-news.md) | +0.1% | +0.7% |
| DXY | 2022-08-31 | [Rupee outperforms most EM peers as dollar surges to a 20-year high \| Money & Forex Markets - Business Standard](https://feedsoft.ai/events/40315-rupee-outperforms-most-em-peers-as-dollar-surges-to-a-20-year-high-money-and.md) | +0.9% | +3.6% |
| DXY | 2021-02-22 | [US money markets bringing forward Fed rate hike bets to end-2022 - Markets - Business Recorder](https://feedsoft.ai/events/48546-us-money-markets-bringing-forward-fed-rate-hike-bets-to-end-2022-markets.md) | +1.0% | +1.1% |
| DXY | 2023-02-27 | [Asian FX, stocks pressured by higher US rates outlook - Markets - Business Recorder](https://feedsoft.ai/events/37599-asian-fx-stocks-pressured-by-higher-us-rates-outlook-markets-business-recorder.md) | -0.7% | -0.9% |
| DXY | 2021-11-23 | [Indian bonds, rupee weaken on Jerome Powell’s new term at U.S. Federal Reserve - The Hindu](https://feedsoft.ai/events/44317-indian-bonds-rupee-weaken-on-jerome-powell-s-new-term-at-u-s-federal-reserve.md) | +0.5% | +0.4% |

## Sources

- business-standard.com: https://www.business-standard.com/article/finance/rupee-slides-as-federal-reserve-s-powell-hints-at-higher-us-terminal-rates-123030800248_1.html

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