# Indian rupee slips to record low, RBI steps in

> The Indian rupee closed at 79.9625 per US dollar, weaker than 79.8650 the prior session, after hitting a record low of 80.12 earlier in the day. The Reserve Bank of India sold dollars to support the currency, according to traders.

- Date: 2022-08-29 · published 2022-08-29T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/40314-indian-rupee-slips-to-record-low-rbi-steps-in
- 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 crude oil and feed inputs, which pressures Indian import demand and feed margins.

## Read by commodity

- USDINR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/indian-rupee-slips-record-low-rbi-steps-2022-08-29/

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