# Indian rupee flat as dollar demand offsets boost from oil plunge - Markets - Business Recorder

> The Indian rupee was little changed at 81.665 per dollar as a drop in oil prices was offset by steady corporate dollar demand from importers. Brent fell more than 3% overnight below $90 a barrel on COVID concerns in China and fears of aggressive US rate hikes.

- Date: 2022-11-18 · published 2022-11-18T12:00:00.000Z
- Category: market · region India · magnitude low
- Page: https://feedsoft.ai/events/38959-indian-rupee-flat-as-dollar-demand-offsets-boost-from-oil-plunge-markets
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Lower crude prices ease the import bill for oil-importing Asian economies, but persistent dollar demand limits the currency's response to the drop in oil.

## Read by commodity

- BRENT: bearish ▼
- USDINR: neutral

## Sources

- brecorder.com: https://www.brecorder.com/news/40209568

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