# INDIA RUPEE Rupee may firm on smaller Fed rate hike bets; dollar hits 7-month low

> The rupee was poised to open higher on Tuesday as traders bet the Federal Reserve could opt for smaller interest rate hikes, with the dollar at a seven-month low. The local currency had closed at 82.36 on Monday, its best session in two months.

- Date: 2023-02-01 · published 2023-02-01T12:00:00.000Z
- Category: market · region India · magnitude low
- Page: https://feedsoft.ai/events/38052-india-rupee-rupee-may-firm-on-smaller-fed-rate-hike-bets-dollar-hits-7-month-low
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A firmer rupee lowers the local cost of dollar-priced imports for India, but this is routine currency commentary with no new fundamental cause for feed markets.

## Read by commodity

- USDINR: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/india-rupee-rupee-may-firm-smaller-fed-rate-hike-bets-dollar-hits-7-month-low-2023-01-10/

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