# INDIA RUPEE-Importers, custodial banks pull rupee down; Asian peers inch up | Kitco News

> The Indian rupee fell against the dollar on Monday on dollar demand from foreign banks and importers, trading near 81.67, while most Asian currencies rose led by the onshore yuan. Indian equities slid after a short-seller report on the Adani Group, and markets were awaiting the US Fed decision and India's budget on Feb. 1.

- Date: 2023-01-30 · published 2023-01-30T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/38047-india-rupee-importers-custodial-banks-pull-rupee-down-asian-peers-inch-up-kitco
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A weaker rupee raises the local-currency cost of imported feed ingredients and oilseeds for Indian buyers, while stronger Asian currencies generally support regional demand.

## Read by commodity

- USDINR: bullish ▲

## Sources

- kitco.com: https://www.kitco.com/news/off-the-wire/2023-01-30/india-rupee-importers-custodial-banks-pull-rupee-down-asian-peers-inch

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