# Rupee pulls back from 82.95 on likely heavy US dollar selling by RBI | Money & Forex Markets - Business Standard

> The rupee recovered from an intraday low of 82.95 per dollar on February 27 after the RBI likely sold dollars to prevent excess volatility. The currency settled at 82.85, and the 10-year bond yield rose above 7.45%. The rupee has fared better than 11 other emerging-market currencies so far in February.

- Date: 2023-02-27 · published 2023-02-27T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/37608-rupee-pulls-back-from-82-95-on-likely-heavy-us-dollar-selling-by-rbi-money-and
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

RBI dollar sales are capping rupee depreciation, which limits the increase in Indian import costs for feed and meal. Rising domestic bond yields also signal tighter financial conditions that could weigh on Indian livestock and feed investment.

## Read by commodity

- USDINR: bearish ▼

## Sources

- business-standard.com: https://www.business-standard.com/article/finance/rupee-recovers-from-82-95-per-dollar-on-likely-heavy-usd-sales-by-rbi-123022701168_1.html

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