# Indian rupee likely to open flat as oil surge counters dollar retreat

> The Indian rupee was expected to open little changed on Wednesday as an overnight jump in oil prices offset a slight pullback in the US dollar. The outlook is a short-term market preview.

- Date: 2022-08-24 · published 2022-08-24T12:00:00.000Z
- Category: market · region India · magnitude low
- Page: https://feedsoft.ai/events/40316-indian-rupee-likely-to-open-flat-as-oil-surge-counters-dollar-retreat
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Higher oil prices raise India's import bill and dollar demand, which weighs on the rupee and can increase the cost of imported feed inputs.

## Read by commodity

- WTI: bullish ▲
- USDINR: neutral

## Sources

- reuters.com: https://www.reuters.com/business/finance/indian-rupee-likely-open-flat-oil-surge-counters-dollar-retreat-2022-08-24/

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