# INDIA RUPEE Rupee hits record low on worries of aggressive U.S. rate hikes

> The Indian rupee fell to a record low of 83.16 per dollar on October 20, extending the previous day's slide. The move followed a jump in the US dollar and Treasury yields on expectations of continued aggressive Federal Reserve tightening. The rupee had already dropped 0.8% in the prior session on dollar demand from large state-owned companies.

- Date: 2022-10-20 · published 2022-10-20T12:00:00.000Z
- Category: macro · region India · magnitude medium
- Page: https://feedsoft.ai/events/39415-india-rupee-rupee-hits-record-low-on-worries-of-aggressive-u-s-rate-hikes
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A weaker rupee raises the local cost of dollar-priced imports such as feed ingredients and energy, which can lift Indian buyers' demand for dollar-denominated supplies. Strong dollar moves also tend to pressure dollar-priced commodities globally.

## Read by commodity

- USDINR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/asia/india-rupee-rupee-hits-record-low-worries-aggressive-us-rate-hikes-2022-10-20/

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