# Indian rupee firms up further, drops below 22 to dirham first time since October 7

> The Indian rupee strengthened in early trade to about 80.71 per dollar, pushing the AED-INR rate below 22 for the first time since early October. The move followed dollar weakness and a fall in India's inflation to 6.4% from above 7%.

- Date: 2022-12-01 · published 2022-12-01T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/38962-indian-rupee-firms-up-further-drops-below-22-to-dirham-first-time-since-october
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A firmer rupee lowers India's cost of dollar-denominated imports, a minor factor for feed buyers, with the effect on regional import demand expected to be limited.

## Read by commodity

- USDINR: bearish ▼

## Sources

- gulfnews.com: https://gulfnews.com/business/markets/indian-rupee-firms-up-further-drops-below-22-to-dirham-first-time-since-october-7-1.1668139018310

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