# Rupee falls 1% as robust US jobs data stokes Fed rate hike fears | Money & Forex Markets - Business Standard

> The rupee fell 1.08% to close at 82.73 per dollar on February 6, its largest single-day drop in four months. The decline followed US non-farm payrolls of 517,000, well above the 185,000 estimate. The data raised fears that the Federal Reserve would keep raising rates for longer than expected.

- Date: 2023-02-06 · published 2023-02-06T12:00:00.000Z
- Category: macro · region India · magnitude medium
- Page: https://feedsoft.ai/events/37610-rupee-falls-1-as-robust-us-jobs-data-stokes-fed-rate-hike-fears-money-and-forex
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Strong US data lifts the dollar and raises the rupee cost of imported feed ingredients, which pressures Indian feed margins. Expectations of tighter Fed policy also weigh on emerging-market currencies more broadly.

## Read by commodity

- USDINR: bullish ▲

## Sources

- business-standard.com: https://www.business-standard.com/article/finance/rupee-plunges-1-as-us-data-stokes-federal-reserve-rate-hike-fears-123020601127_1.html

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